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.
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 some 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.
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 the strata scheme becomes legally responsible to pay compensation for 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.
If 20% or more of the strata scheme is used for commercial purposes, a commercial strata policy applies. If less than 20% is commercial, a residential strata policy is issued.
CHU insures residential, commercial and mixed-use strata properties and community associations. This includes apartments, townhouses, villas, offices, shopping centres and industrial estates.
Yes. Strata insurance is a legal requirement in all states and territories, though the minimum liability limits and mandatory inclusions vary by jurisdiction. In certain states, smaller strata schemes — often two or three units — may not be required to hold insurance, but having coverage can still provide significant value.
It covers the building structure and common property such as lobbies, stairwells, lifts, sealed driveways, pools, carparks and gardens. It also provides liability cover and may include additional protections like machinery breakdown or office bearers’ legal liability.
Contact our team and we can guide you on what information is required.
Yes, CHU can accept part payments from individual owners against one invoice. We issue a single tax invoice; the main contact should share it with owners. Use the correct reference number so each payment is allocated properly.
In many cases, yes. Changes like sum insured or excess can be requested and may affect your premium. Some adjustments aren’t possible after the policy inception date. Please review your quote or renewal invitation and contact us to discuss any changes.
Start with our Financial Services Guide (FSG), the Product Disclosure Statement (PDS) and the Target Market Determination (TMD). The FSG explains our services; the PDS outlines inclusions, limits and exclusions; and the TMD explains who the product is designed for.
Strata insurance covers shared buildings and common property owned by the owners corporation (body corporate). It typically includes the building structure and common area contents (lobbies, lifts, sealed driveways, pools) and includes liability cover if someone is injured on common property.