Get a quote
Skip to Main Content
Manage my policy Get a quote

What is strata insurance?

Strata insurance defined

Strata insurance is insurance that the owners corporation (also known as the body corporate) is obliged to take out to cover the building, common property and common area contents of a strata scheme.

Insurance is available for both residential strata and commercial strata properties. It is mandatory to hold strata insurance which conforms to each state’s relevant legislation in Australia.

What does strata insurance typically cover?

Strata insurance typically covers common area contents, the building and shared property in the event of loss or damage. Generally, events like theft of common area contents, repairs to damaged property managed by the owner's corporation and the cost of recovery if disaster strikes are also included in strata insurance. It is also compulsory for strata insurance in all parts of Australia to provide liability cover in the event that people are injured on common property.

What does strata insurance cover?

Watch this video to understand what residential strata insurance covers and the scenarios when landlords or contents insurance is necessary.

Not sure about the type of cover you need?

CHU is an Australian strata insurance specialist and can assist you with arranging residential or commercial strata insurance cover that’s right for your property. We have offices in Sydney, Melbourne, Brisbane, Adelaide and Perth, and offer tailored guidance on our products and the cover that is suitable for you and your property.

Residential strata

Get a quote See the cover

Commercial strata

Get a quote See the cover

If you are managing mixed-use strata, see commercial strata.

Legislation Information By State:

Strata Insurance Queensland

In Queensland, the responsibility for maintaining and securing common areas rests with body corporates and community title schemes, as outlined by the Body Corporate and Community Management Act 1997 (Qld). Learn more about strata insurance for QLD here.

Strata Insurance New South Wales

In Sydney and across the diverse landscapes of New South Wales, owners corporations shoulder the responsibility of managing five fundamental aspects of their scheme: property, finances, insurance, records, and building defects, as mandated by the Strata Schemes Management Act 2015 No 50 (NSW). Learn how CHU has been a trusted partner to local owners corporations for 40 years, originating strata insurance right here in NSW. 

Strata Insurance Victoria

In Melbourne and across Victoria, owners corporations are mandated to fulfill various obligations and duties as per the Owners Corporation Act 2006 and associated legislation. 

CHU offers extensive coverage for Victoria's owners corporations, mirroring our commitment to residential and commercial strata insurance. Find out more here.

Strata Insurance South Australia 

The task of managing the safety and maintenance of common property rests with strata schemes and community corporations. Our strata insurance offerings provide comprehensive protection for strata schemes and community corporations for residential and commercial strata in South Australia. Learn more about it here. 

Strata Insurance Western Australia 

In Western Australia, the responsibility for covering the costs of maintenance and repair of common property, alongside managing public liability within common areas, falls on strata companies. There are significant reforms underway regarding shared and community titles in Western Australia.

CHU's provides comprehensive protection for strata companies for residential and commercial properties. Find out more here.