Typically, owners corporation insurance does not cover the personal belongings of individual unit owners/residents. Owners corporation insurance only covers the shared or common property within the strata building.

An owners corporation (also known as a body corporate in some states) manages and maintains common property in strata-titled buildings. Insurance is essential to help maintain and protect shared areas and assets from damage, liabilities or unexpected events.

The policy continues to protect the association, and Office Bearers’ cover (if selected) applies to committee members while they are acting within their role. 

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 centres. 

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) 

• Items not permanently attached including temporary flooring, carpets, blinds and curtains, and appliances. 

• Personal possessions, business effects and other contents items 

• The individual occupancies business insurances 

See the Product Disclosure Statement (PDS) for full list of exclusions.