Flexibility - design your own policy
Market leading fully flexible strata insurance with the ability to customise your policy to suit your strata building.
When you own a strata property in Queensland your body corporate or community title scheme must take out strata insurance with certain basic cover.
Under Queensland law – the Body Corporate and Community Management Act 1997 (Qld) and other legislation – a number of items are automatically covered by your Flex Insurance, including:
Once the basics are looked after however, you can choose a range of options to add to your residential strata insurance, including:
Market leading fully flexible strata insurance with the ability to customise your policy to suit your strata building.
Flex cuts through the confusing insurance jargon with easy to understand strata policies helping you choose the cover that is best for you.
24/7 claims service and support with emergency assistance to get you back on your feet as soon as possible.
Brought to you by Australia’s first and leading strata specialist CHU Underwriting Agencies.
It certainly is. Surfers Paradise, Gold Coast and the Sunshine Coast have some of the highest concentrations of strata properties outside Australia's capital cities. So it makes sense that our flexible strata insurance is there to give peace of mind to body corporates and community title schemes, with specially tailored cover to meet all the requirements of Queensland property laws and regulations.
The Flex cover also extends to some regional Queensland cities such as Toowoomba.
In Queensland, sections 197 and 206 of the Body Corporate and Community Management (Standard Module) Regulations 2020 require the body corporate to take out strata insurance to cover:
Body corporates can also take out optional cover to include such things as theft and fraud, machinery breakdown, committee indemnity, and injury suffered by workers or volunteers.
The body corporate of a strata title scheme is responsible for taking out strata insurance. In practical terms this means it’s usually the management committee that purchases from the insurance company, or via a broker or strata manager, on behalf of the body corporate. Members of the body corporate (i.e. the unit owners) have the right to inspect the policy, check that it is adequate, and that it represents value for money.
Yes, strata insurance covers the cost of repairing or replacing the building's infrastructure, such as the walls and windows, stairwells and fire exits, common lobbies and facilities, lighting, security systems and even areas which aren't accessible to all residents such as individual balconies and managers' offices.
Strata insurance covers areas of the property that are owned jointly by the lot owners, such as the building, all common areas such as driveways and carparks, plus outbuildings like garages and sheds. These items are defined in the QLD strata title. Repairs to gardens can be included but may have limits set on them. Items such as machinery should be listed specifically to ensure they are covered if they are not standard.
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Product Disclosure Statement and Policy Wording for policies effective from 1 October 2023 | Download |
What has Changed for PDS and Policy Wording effective 1 October 2023 Outlines key policy changes, and should be read in conjunction with latest Product Disclosure Statement and Policy Wording. |
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Product Disclosure Statement and Policy Wording for policies effective from 1 January 2022 - 30 September 2023 | Download |
Target Market Determination (TMD) Target Market Determination is a document that describes who the product is appropriate for (target market), and any conditions around how the product can be distributed to customers. |
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PDF Quote Form Download and complete a pdf quote form |
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