Commercial Strata Insurance Plan

Do I need Commercial or Residential Strata Insurance? 

Like our Residential Strata Insurance Plan, our Commercial Strata Insurance plan covers common areas including driveways, lifts and pools in the event of damage to or destruction of the building. This policy will also provide liability cover in the event of personal injury in connection with the insured property and is mandatory for commercial strata title properties across Australia. If 20% or more of your strata property is used for commercial purposes, you will need a Commercial Strata Insurance Plan.  

How do I measure whether my strata is more than 20% commercial?

This can be calculated using the building’s floor plans (also known as strata plans). If you aren’t sure, our customer service team can assist. 

Will I be covered for any type of commercial tenancy? 

To provide a commercial strata insurance quote, we require a tenancy listing to be provided to ensure you are adequately covered.  If there are any changes to commercial occupancies, we will need to be updated to make sure you are continued to be properly covered. There are a few types of occupancies currently outside of our underwriting guidelines – we will let you know if we are not able to offer cover. Importantly, a commercial strata policy is a building owners’ policy only and is not intended to provide coverage for business operations conducted onsite. Please refer to our Target Market Determination to assess whether this policy is right for you.

What strata insurance covers the property if I have residential and commercial tenants?

Our Commercial Strata insurance policy is designed for mixed-use buildings offering cover for both residential and commercial tenants. It typically includes protection for the building structure, common areas, and liability, ensuring that all aspects of the property are safeguarded under a single policy.

What common areas are typically covered under commercial strata insurance?

Commercial strata insurance generally covers all shared spaces such as lobbies, elevators, parking garages, gardens, gyms, and roofs. It also extends to communal facilities specific to commercial properties like shared conference rooms and business centers.

• Items not permanently attached including temporary flooring, carpets, blinds and curtains, and appliances.
• Personal possessions and other contents items
• Non-ducted air-conditioning units
• The individual occupancies business insurances

(see Product Disclosure Statement (PDS) for full list of exclusions)

• Commercial Strata insurance doesn’t cover for tenant related loss or damage inside the property. If you are an investor in a Mixed-use strata, we offer landlord insurance to protect your unit against damage caused by tenants.  

How does commercial strata insurance handle damage from natural disasters or emergencies?

Commercial strata insurance provides coverage for damage caused by natural disasters such as floods, fires, earthquakes, and storms, depending on the specific terms of the policy. It helps cover the costs of repairs and replacements to damaged property and common areas, as well as temporary relocation expenses if necessary. Learn more in our Product Disclosure Statement (PDS)

Commercial Strata Insurance Information By State:

Strata Insurance Queensland

The upkeep and safety of common areas in Brisbane and across Queensland fall under the jurisdiction of body corporates and community title schemes, as outlined in the Body Corporate and Community Management Act 1997 (Qld). You can learn more about strata insurance for QLD here.

Strata Insurance New South Wales

In New South Wales, the responsibility for managing five essential aspects of their scheme—property, finances, insurance, records, and building defects—lies with owners corporations, as outlined in the Strata Schemes Management Act 2015 No 50 (NSW). CHU has been serving the local community's commercial strata insurance needs for four decades. Find out more here.

Strata Insurance Victoria

In Victoria, owners corporations are mandated to adhere to a range of obligations and duties outlined in the Owners Corporation Act 2006 and other relevant legislation. CHU provides comprehensive protection for commercial properties. Learn more about it here.  

Strata Insurance South Australia 

Across Adelaide and the expanse of South Australia, strata schemes and community corporations shoulder the responsibility of overseeing the safety and upkeep of common property. Our commercial strata insurance extends protection to strata schemes and community corporations, covering public liability, building damage and repair expenses, theft occurrences in common areas, and the necessary costs of recovering from unforeseen catastrophes. Learn more here

Strata Insurance Western Australia 

In Perth and across Western Australia, strata companies bear the responsibility for funding the maintenance and repair of common property, along with managing public liability concerns in common areas. Reforms to shared and community titles are currently in progress within Western Australia. Learn more about it here. 

Find out how CHU's comprehensive strata cover offers protection for strata companies against various risks including building damage and repairs, theft of common area contents, public liability incidents, and the expenses incurred in recovering from significant disasters.