Residential Strata

Compulsory in NSW but optional in all other states and territories, voluntary workers' insurance covers anyone who is injured (or worse) while doing unpaid work for your owners’ corporation.

Optional in all states except SA, fidelity guarantee covers your owners’ corporation for financial losses that come about due to fraud or theft. 

If your strata committee is involved in a law suit, this inclusion can help cover the cost of defending the legal claim against you, and any payments your committee members need to make.

Important for when you have lifts and elevators, but it also covers shared appliances such as fused motors in communal washing machines, basement water pumps or, in most states, even air conditioners. 

When serious disaster strikes, such as bushfire, cyclone or earthquake, this option comes into effect when the government declares a catastrophe. It covers the increased cost of building and repairs, due to the huge demand for builders and tradespeople.

Provides cover in the event of a government audit, protection if the Body Corporate needs to appeal an unreasonable Order imposed by a statutory body and provides cover for legal defence costs

This option is available to cover any shortfall between your building’s estimated replacement cost and its actual replacement cost when any improvements or renovations made by the property owner are included which the Body Corporate may not have been aware of.

Strata insurance QLD

In Queensland, most body corporates fall under the Body Corporate and Community Management Act 1997 and one of five regulation modules: Standard, Accommodation, Commercial, Small, or Specified Two-Lot. Find out more about what is covered by Flex Strata Insurance in Queensland here.

Strata insurance NSW

In New South Wales, most strata properties fall under the remit of either the Strata Schemes Management Act 2015 (NSW) or other legislation. Discover which inclusions are provided by Flex Insurance for our NSW strata community managers here.

Strata insurance VIC

In Victoria, the Owners Corporation - as mandated by the Owners Corporations Act of 2006 - is obligated to undertake various responsibilities, including the management, administration, repair, and maintenance of the common property. Take a look at how Flex Insurance covers what is legally required for Victorian Owners Corporations here.

Strata insurance SA

In South Australia, most strata properties are governed by the Strata Titles Act 1988 (SA), whereby a strata title is created by the division of land into separate units (at least two) plus common property.  Check out what is covered by Flex Insurance in South Australia here.

Strata insurance WA

In Western Australia, the Strata Title Act (WA) encompasses the subdivision of land through strata title schemes, the establishment of strata titles, and the governance of strata titles schemes in Western Australia. Learn more about how Flex Insurance protects Western Australian strata properties though our strata insurance here.

What is strata insurance?

Strata insurance provides protection for structures with communal areas, such as apartments and townhouses, safeguarding against insured events like break-ins and severe weather conditions. Typically distributed among members of the owners corporation , this insurance policy can also extend coverage to shared contents such as laundry and gym equipment. Tailored coverage ensures comprehensive protection for the shared assets and spaces within the strata community. Read more about What is Strata Insurance here.

Is strata insurance compulsory?

In every Australian state and territory, residential strata insurance is a legal requirement for residential strata properties. At a minimum, it must cover repair or replacement of the building, common property and common area contents, plus public liability claims for personal injury or property damage that occurs on common property. Some states also require cover for workers or against committee fraud.

What is not covered by strata insurance?

In addition to major but rare acts such as terrorism, nuclear accidents and war, strata insurance also does not cover cyber incidents, loss of electronic data, asbestos-related damage or injury, any loss, damage or costs arising from communicable diseases, or any costs stemming from intentional damage caused by the body corporate or its agents.

The contents of individual units within a strata property are also excluded from strata insurance. Instead, these should be covered by the unit owners own contents insurance.