Strata & community insurance Adelaide
Body Corporate groups (Strata and Community titled) have a legal obligation to insure their common property and other insurance items. In Strata titled groups there is an additional requirement to insure the whole building and all improvements. Stratarama can review your property and the group’s documentation to assist in determining the legally required covers for your property. The group will then need to determine the amounts of cover which they require, or appoint a Valuer to offer them guidance in this area.
The below pages will take you to information on Strata Insurance from the Insurance Council of Australia, our partner Insurer’s Product Disclosure Statement pages and information regarding Landlord and Contents Protection insurance.
We have 2 decades of experience in the strata industry
What is strata insurance?
Below is a general breakdown of Strata insurance as taken from the Insurance Council of Australia website.
Residential strata insurance (also known as body corporate cover in some states) is general insurance that covers common property under the management of a strata title or body corporate entity. Owners of strata titles typically share the premium costs of strata insurance as part of their strata fees and liabilities. Holding strata insurance is mandatory under each state’s relevant strata legislation.
No. You should make sure you have appropriate contents cover for your belongings and for those things strata insurance does not protect. Strata insurance covers only common or shared property. This may include some of the fixed parts of your unit, but will not cover everything. It is important you read the policy purchased by your manager or body corporate to understand what is and is not covered in your unit.
Landlord &
contents insurance
General information &
PDS
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