Flexibility - design your own policy
Market leading fully flexible strata insurance with the ability to customise your policy to suit your strata building.
Your SA strata corporation must take out insurance for essentials. Flex Insurance lets you tailor any extras to include only the things you need.
Under South Australian law – the Strata Titles Act 1988 (SA) and other legislation – essentials are covered in your Flex Residential Strata Insurance policy:
Flex Insurance lets you add optional extras to make sure you’re only paying for the things you really need. Additional cover can be included for:
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.
Yes it does. While Adelaide might have most of the strata properties in South Australia, we know that cities and regional centres such as Gawler, Mount Gambier, Mount Barker, Victor Harbor, Port Lincoln, Whyalla and Murray Bridge also have their share of strata properties - all of which need reliable, tailored, strata insurance specific to SA.
In South Australia, sections 103 and 104 of the Community Titles Act 1996 and sections 30 and 31 of the Strata Titles Act 1988, require the strata corporation to take out strata insurance to cover:
Owners corporations can also take out optional cover to include such things as machinery breakdown, committee indemnity, and injury suffered by workers or volunteers.
The community corporation of a community scheme or community strata 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 corporation, however members of the community corporation (i.e. the unit owners) have the right to inspect the policy, check that it is adequate, and that it represents value for money.
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, driveways and carparks, and also common areas around and within the building. The SA strata title defines these. The policy can also include gardens, usually with separate limits, and also machinery listed on the policy.
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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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