Strata insurance is arranged by the owners corporation and covers the building structure and shared property. Contents insurance protects your personal belongings inside your lot.
Yes. If your home becomes uninhabitable due to an insured event, we can help cover the cost of temporary accommodation.
It covers your furniture, appliances, electronics, clothing, and more from events like fire, theft, flood, or storm. It also includes legal liability and optional extras like accidental damage or portable contents.
The Community Association, its elected committee or the duly appointed managing agent is responsible for arranging and maintaining the insurance on behalf of all lot owners.
Community insurance is a policy that covers shared property, infrastructure and liability risks within a Community Association.
Community property includes shared areas such as private roads, communal gardens, utilities such as above and below ground services, and facilities like pools or clubhouses owned collectively by all lot owners.
If your building is insured for less than its replacement value, there may be a shortfall in your claim after a major loss. If this eventuated, this would leave lot owners responsible for covering the shortfall. Ensure valuations are a regular agenda item at your building’s AGM to reduce the risk of underinsurance.
A professional strata building valuation is the most common way to determine the appropriate sum insured.
The valuation should cover:
- Full reinstatement (like-for-like rebuild)
- Debris removal and professional fees
- Inflation and cost escalation
CHU automatically indexes your sum insured at renewal, but valuations should be carried out regularly. In some states, valuations are legally required every five years.
Cladding refers to material fixed to the outside of a building for decoration or protection.
- Cladding may include timber finishes, fibre cement sheeting, aluminium composite panels (ACP) or expanded polystyrene (EPS).
- Where ACP or EPS is used, CHU may request additional information from the insured.
Liability to others (sometimes referred to as Public Liability) is a compulsory requirement under legislation. The minimum limit of liability varies between states and territories as follows:
ACT – minimum of $10,000,000
NSW – minimum of $20,000,000, as well as mandatory cover for voluntary workers
NT – minimum of $10,000,000
QLD – minimum of $10,000,000
SA – minimum of $10,000,000, as well as mandatory cover for fidelity guarantee
TAS – minimum of $10,000,000
VIC – minimum of $20,000,000
WA – minimum of $10,000,000
It covers legal costs if claims are made against members of the strata committee. Protection applies to wrongful acts, errors, or omissions committed while carrying out official duties.
They are permanent improvements installed by a lot owner for their exclusive use. Examples include upgraded floorboards, renovated bathrooms or built-in cabinetry. These become part of the building once installed.