Flexibility - design your own policy
Market leading fully flexible strata insurance with the ability to customise your policy to suit your strata building.
Flex Body Corporate Cover
A Body Corporate is also called owners' corporation, strata corporation, corporation and strata company - depending on the state or territory.
It is formed as a legal entity when land is ‘subdivided’ and registered under the law to allow multiple owners of a property, such as townhouses or apartments, to all have a say in the management of that land/dwelling.
Body corporate insurance is also commonly known as ‘strata insurance’. This insurance covers common areas and shared structures within the property that are owned collectively by all the owners. It typically includes coverage for things like the building's exterior, common areas such as hallways and stairwells, lifts, swimming pools, and liability protection for accidents or injuries that occur on the property. Body corporate cover helps protect the collective interests of all property owners or tenants within a strata-titled development, ensuring that they are financially protected against risks and liabilities associated with the shared aspects of their property.
Different states have different strata insurance requirements, but since Flex Insurance are the experts in strata property cover, you can be sure that your Flex insurance policy covers all your essentials - property, public liability and more.
What does body corporate insurance cover - automatic inclusions
Every insurance policy needs to start somewhere, and we start with the cover that your state’s laws may require and build from there. All our policies include the basics; insurance for the property and public liability.
Automatic inclusions (required by law):
- Your property
Naturally, the first thing you need to cover is your physical property. Your Flex insurance policy covers you and your body corporate for the cost of damage or repairs to buildings and common assets, including wiring and plumbing, carports and garages, flooring, and strata-owned fixtures that are part of the general fabric of the building. - Your liability to others
If somebody visiting your property suffers an injury or asset damage, it could lead to a law suit against the owners corporation (body corporate). Public liability insurance helps to cover legal expenses and costs that the owners corporation (body corporate) may be ordered to pay due to negligence.
Your body corporate can choose
Every strata property is different and when it comes to body corporate cover, one size does not fit all. So, at Flex Insurance we let you tailor your insurance by adding in options that match your needs.
It’s simple, straightforward and saves you money.
Optional cover to meet your needs
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Voluntary workers' cover
Optional in all states and territories except NSW – where it’s compulsory – voluntary workers’ insurance covers anyone who is injured (or worse) while doing voluntary work for your owners corporation.
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Fidelity guarantee
Compulsory in SA, but optional everywhere else, fidelity guarantee covers your body corporate for losses that come about due to fraud or theft of body corporate funds.
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Office bearers' legal liability
If someone brings a lawsuit against the strata committee, this option can help cover the cost of defending the claim against the individual committee members and also cover any payments they are required to make.
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Machinery breakdown
If your property has lifts and elevators, this can save you a lot in repair bills. But it also covers things like fused motors in communal washing machines, basement water pumps and, in most states, even air conditioners.
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Catastrophe cover
If a major disaster strikes, such as bushfire or cyclone, the cost of repairs can skyrocket due to increased demand on builders. This option comes into effect after a government-declared catastrophe to cover such increases.
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Government audit costs and legal expenses
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.
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Lot owners' fixtures and improvements
This can cover any shortfall between your building’s estimated replacement cost and its actual replacement cost when improvements or renovations have been made by an individual property owner, which the body corporate might not be aware of.
Start building your cover now
Why choose Flex Insurance?
Simple and Affordable
Flex cuts through the confusing insurance jargon with easy to understand strata policies helping you choose the right cover for you.
24/7 Claims
24/7 claims service and support with emergency assistance to get you back on your feet as soon as possible.
Over 40 Years of innovation
Brought to you by Australia’s first and leading strata specialist CHU Underwriting Agencies.
Important documents
| Name | Link |
| Product Disclosure Statement and Policy Wording for policies effective from 20 July 2021 | Download |
| Summary of Key Changes July 2021 | Download |
| Product Disclosure Statement and Policy Wording for policies effective from February 2021 - 19 July 2021 | Download |
| 1 page Flyer | Download |
| Flex Insurance and CHU comparison flyer | Download |
Who needs Flex body corporate insurance?
Self-Managed Schemes
Whether you're a seasoned expert or just starting out, whether your property is large or small, Flex Insurance body corporate insurance is designed to be user-friendly, allowing you to customise the policy to fit your specific requirements. Say goodbye to stress, uncertainty, and unnecessarily high body corporate fees with Flex Insurance.
Strata managers
Impress your clients by offering them savings without compromising peace of mind with Flex body corporate insurance. With our service, we prioritise professional expertise, offering general advice, flexible policy options, and unbeatable value for money. Your clients deserve the best, and we're here to deliver just that.
Insurance brokers
Whether body corporate insurance is your specialty or just one aspect of your insurance services, we're dedicated to supporting you in delivering top-notch assistance to your clients. Our goal is to offer exceptional tailor-made coverage that is both affordable and dependable, ensuring peace of mind for you and your clients alike.
Body Corporate information by state
Owners Corp NSW
Like any company that owns property, the owners corporation has various responsibilities to the owners, tenants, the public and the law. In New South Wales, the Strata Schemes Management Act 2015 regulates how strata committees and owners corporations act and operate. Read more here.
Body Corp VIC
In Victoria, the Owners Corporation Act 2006 and the Owners Corporations and Other Acts Amendment Act 2021 regulate how committees and body corporates operate. You can find out more here.
Strata Title QLD
Like any company that owns property, the body corporate has obligations to the owners, tenants, the public and the law. In Queensland, the Body Corporate and Community Management Act 1997 and its regulations control how committees and body corporates act and operate. Discover more here.
Council of Owners WA
In WA, the Strata Titles Act 1985 regulates how strata committees and companies act and operate. In short, the strata company is responsible for maintenance, repair and overall management of the common property. Check out our page here.
Frequently asked questions
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What is body corporate insurance?
Body corporate cover helps protect the collective interests of all property owners or tenants within a strata-titled development, ensuring that they are financially protected against risks and liabilities associated with the shared aspects of their property. It typically covers common areas and shared structures within the property that are owned collectively by all the unit owners or tenants, along with the main building.
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Is body corporate insurance compulsory?
Body corporate insurance is a necessary legal requirement, and it falls under the responsibility of the body corporate or its equivalent, such as the owners corporation, to ensure essential coverage. While specific requirements vary across states and territories, one consistent aspect is the need for public liability cover to safeguard the strata complex.
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What is not covered by body corporate 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.
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What are body corporate fees?
In a strata property, individual lot owners contribute fees or levies to the body corporate to cover maintenance, repairs, and safety measures for assets like buildings, gardens, and equipment. These fees also encompass utility bills for shared spaces, insurance, management fees, and other professional expenses. The fee amount is typically determined based on the size or value of each unit, with larger units paying more. Read more about body corporate fees here.