Flexibility - design your own policy
Market leading fully flexible strata insurance with the ability to customise your policy to suit your strata building.
In WA, the Council of Owners must take out insurance on behalf of the Strata Company. Flex Insurance lets you tailor your strata insurance.
Under WA law – the Strata Titles Act 1985 (WA) and other legislation – body corporates and councils of owners are required to take out certain minimum cover. So Flex Residential Strata Insurance automatically includes insurance for:
Once you’ve covered the essentials, your committee can choose which optional add-ons it wants to include, such as:
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.
Definitely. While Perth certainly has the majority of strata properties in Western Australia, other cities and major towns such as Bunbury, Geraldton, Albany, Kalgoorlie, Busselton all have strata properties as well. And their councils of owners all want the peace of mind that comes with flexible, dependable, WA-specific strata insurance.
In Western Australia, section 83 of the Community Titles Act 2018 and section 97 of the Strata Titles Act 1985, require the council of owners to take out strata insurance to cover:
Owners corporations 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 strata company is responsible for taking out strata insurance. In practical terms, this means it’s usually the council of owners that purchases from the insurance company, or via a broker or strata manager on behalf of the strata company, however members of the strata company (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 councils of owners for 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.
Councils of owners take out strata insurance to cover areas of the property that are owned jointly by the lot owners, such as the building, common areas inside and outside the building, driveways, carparks and garages plus garden sheds. These items are defined in the WA strata title. Outdoor landscaping and gardens may have set limits and machinery should have a specific listing in 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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