Owners Corporation Insurance

What is Owners Corporation Insurance?

In Australia, owners corporation insurance (also known as body corporate or strata insurance) is essential for owners of strata-titled properties, including apartments, townhouses, and other multi-unit complexes. This insurance plays a crucial role in protecting the common property and the welfare of unit owners, ensuring coverage for damage to common areas and structural elements, while also mitigating risks and liabilities.

CHU offers competitive insurance for an owner’s corporation or body corporate’s members.

Residential strata

Strata insurance protects the building and shared common areas from unexpected events such as fire, storm, water damage, theft and legal liability.

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Commercial strata

Cover to protect your commercial strata or mixed-use building, mandated across Australia.

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What we cover for Owners Corporations

Owners corporation insurance covers the replacement, repair and rebuilding of the strata property in the event of damage caused by natural disasters, fire and unexpected incidents such as vandalism or water damage caused by burst pipes.

Additionally, owners corporation insurance protects property owners in case of legal liabilities or injuries occurring in common spaces. This helps property owners have greater control and protection over their properties, ensuring peace of mind and minimising potential financial and legal costs.

Building Insurance

Covers damage to the physical structure of the building and shared spaces within the strata property. This includes damage caused by natural events such as storms, fire and water damage caused by burst pipes.

Common Area Contents Cover

Extends protection to the fixed and portable possessions within the common areas of the strata property. Contents insurance for strata properties extends to malicious damage or vandalism, theft, water, fire and storm damage. It encompasses items owned by the Owners Corporation like furniture, equipment and decorations in shared spaces like lobbies, hallways, gyms and community rooms

Public Liability Coverage

Provides financial protection in case of injuries or property damage to visitors in common areas. It covers legal costs and compensation payments if a resident, visitor or third party is injured or their property is damaged due to negligence or accidents in shared spaces.

Office Bearers Liability

Covers the legal costs and damages awarded against committee members if they face claims for wrongful acts, errors or omissions in managing the strata property.

Catastrophe Insurance

Provides additional coverage for damage caused by major and unforeseen events such as earthquakes, floods, bushfires and extreme storms. Catastrophe insurance provides property owners with the finances needed to rebuild or repair the property in the aftermath of such an event.

Why choose CHU?

We’ve made every effort to make our Owners Corporation Insurance easier to understand

Specialist strata insurer since 1978

Leading the way in guiding Australian strata towards a healthy and resilient future.

Almost 1 million properties protected

Providing comprehensive cover that strengthens the communities we serve.

Award-winning underwriting agency

Find out why we’re Australia’s leading strata underwriter.

24/7 Emergency Hotline

Reach our experts exactly when you need them.

Peace of Mind for Common Strata Claims

Some of the most common causes of strata insurance claims* include:

Water damage

Burst pipes

Hail damage

Glass breakage

Storm damage

Power surge

Fire damage

Accidental damage

Earthquake

*Coverage for these events depends on the insured event, policy conditions and applicable exclusions. Refer to the PDS for full details