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Body Corporate Insurance

Residential Strata Insurance


If you own a townhouse, unit, or apartment and you’re sharing common space with others, you don’t want to be left to foot the bill if there’s damage to shared parts of the building or items.

Residential Strata insurance protects the building and common areas or facilities, with the premiums paid for by the Body Corporate.

Who should consider it?


Residential Strata insurance is compulsory in every state – so if you’re part of a Body Corporate in a townhouse, unit, flat, apartment or duplex, then you will need Residential Strata Insurance.

We can assist in arranging this type of insurance on behalf of the Body Corporate.

What can it cover?

Residential Strata Insurance can cover the building and all common or shared property, and contents which belong to the Body Corporate. The type of cover and its cost will depend on the kind of building, where it’s located and the amount of common property you share.

Coverage can include

  • Building and common content including equipment, furniture, carpets etc. in any common area for which the Body Corporate is responsible. This can include cover for loss of rent or alternative accommodation due to an insured peril.

  • Compensation to any person injured while carrying out voluntary works on behalf of the owners’ corporation.

  • Cover for office bearer’s if a claim arises from wrongful acts by the office bearers.

  • Loss arising from misappropriation of funds belonging to the Body Corporate.

  • Physical damage to machinery or electrical items caused by breakdown.

What usually isn't covered?

Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for

  • Asbestos or asbestos derivatives

  • Erosion or earth movement

  • Certain property features such as fencing

  • Contents within apartments

There are other exclusions which we can outline for you. In addition, there is a deductible/excess.

Residential Strata Insurance Claim Example


Ken owned a studio apartment on the fifth floor of an apartment block. One day the lift broke down because a fire occurred in the fuse box. Fortunately, Ken and the other members of the strata committee had taken out Residential Strata insurance, which was managed by us.

The repairs were carried out and the cost was covered by their policy, which meant that none of the strata members were out of pocket as a result.

Contact our friendly team today to discuss your needs.

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