CHU launches new Residential Strata Insurance with strengthened cover to better support owners and strata communities.
CHU Australia’s largest strata insurance underwriting agency, today announced it has launched a new residential strata policy. This latest evolution reflects CHU’s long-standing commitment to delivering customer-focused solutions that simplify insurance and support stronger, more resilient communities.
“At CHU, we believe insurance should evolve with the needs of our customers. This upgrade to our residential offering is about removing complexity, bridging gaps in coverage, and ensuring strata residents are better protected,” said Kimberley Jonsson, Chief Executive Officer at CHU.
The new policy introduces several key improvements designed with customers in mind. One of the most significant changes is Lot Owner Contents Insurance – an optional cover that bridges the gap between strata insurance and traditional contents policies. For claims where both common property and certain owner contents are impacted, owners can now liaise with one insurer instead of two. Streamlining the claims process in this way minimises disruption and helps get customers back on their feet as quickly as possible.
This new cover option supplements, rather than replaces, traditional comprehensive contents coverage, as it includes fixtures and fittings such as home appliances, curtains, blinds and carpets, not personal belongings such as clothing, jewellery or other accessories.
Another important change to CHU’s Residential Strata Insurance is that Office Bearers Liability will now be automatically included on all policies. This protection safeguards committee members should they become legally liable while carrying out their duties.
“The work of strata committees is complex. We chose to make Office Bearers Liability a standard inclusion in our coverage for strata committees as there will always be residents who disagree with decisions and may bring action against individual committee members, regardless of the legitimacy of their case. By including Office Bearers Liability as a standard, we’re providing an additional layer of protection for both the individuals and the committee as a whole,” says Ms Jonsson.
CHU has also undertaken a major restructure of the policy wording to improve clarity and usability. In the new wording, all building related covers (Insured Property, Machinery Breakdown, Catastrophe Cover and Lot Owners’ Fixtures and Fittings) are now included in one section, so committees can consider all related cover options together, and decide the level of cover that best suits their needs.
About CHU
Since creating the first strata plan insurance policy in 1978, CHU Underwriting Agencies has grown to become one of Australia’s largest strata insurance specialists. CHU strata insurance covers approximately 1 million apartments, units, villas and townhouses across Australia. CHU also offers commercial strata insurance as well as contents insurance and landlords insurance for strata property owners.
