Strata Insurance In Australia For Owners & Committees
Strata insurance in Australia helps owners and committees manage risks to shared buildings and common property, from storm damage to public liability. Understanding cover, rising premiums and state-based obligations matters for apartments, townhouses and mixed-use schemes.
Explore our articles, calculators, news and podcast ... or connect with a strata insurance broker from our Australia-wide referral partner network who can discuss your needs and compare available rates and options.
Comparison results are from participating brokers within our referral network and may not represent all providers in the market. We may receive a referral fee at no cost to you. We do not provide financial advice or credit assistance directly.
Understand Strata Insurance in Australia
Strata insurance Australia is mandatory for most strata schemes and community title properties, yet many owners are unsure what is covered, how premiums are calculated, or how to handle claims. This site helps you unpack strata insurance coverage, compare options, and work effectively with brokers and insurers to protect your building and its residents.
Use our resources to learn how a strata insurance policy differs from standard building insurance, what your state’s strata insurance legislation requires, and practical steps for managing renewals and strata insurance claims. The information on this site is general only and does not consider your objectives, financial situation or needs. When you are ready, you can request strata insurance quotes from a participating insurance broker in our referral network through our simple online form.
What Does Strata Insurance Cover in Australia?
Cover may include the following, subject to policy terms, limits and exclusions. Additional benefits may be included or available as optional extras.
Common property: Structural elements, shared walls, roofs, foyers, lifts and car parks.
Fixed fixtures: Built-in cupboards, floor coverings in common areas, shared plant and equipment.
Liability protection: Public liability for injury or property damage occurring on common property.
Additional benefits: Cover for catastrophe events, office bearer’s liability and loss of rent.
Many owners assume their personal building or landlord insurance replaces strata insurance, but they cover different risks.
A strata insurance policy is arranged by the owners corporation or body corporate and usually covers the building structure and common property for the entire scheme. Individual contents or landlord insurance may cover possessions, fittings and risks not covered by the strata policy. Responsibility for insuring individual lot buildings varies by scheme and state.
Understanding these differences helps avoid gaps or duplication in cover. Explore more detailed comparisons in our learning hub on our articles library.
Strata insurance cost can vary widely between buildings, even within the same suburb.
Building sum insured, construction type and age of the property.
Claims history for the scheme and any existing building defects.
Location-based risks such as flood, bushfire or storm exposure.
Excess levels, optional covers and the strata insurance providers you consider.
Use indicative tools and calculators to explore how changes in sums insured and excesses may influence premiums by visiting our calculators page.
How to File a Strata Insurance Claim
Notify the strata manager or committee: Report the incident as soon as possible with photos and details.
Confirm policy coverage: Check the strata insurance coverage, excess and any relevant exclusions.
Lodge and track the claim: Submit required documents, coordinate trades, and monitor progress to completion.
We do not provide claims assistance, insurance advice or claims handling services directly. We refer insurance enquiries to participating insurance brokers in our referral network. Contact your broker or insurer about any claims support available under their services.
Strata insurance requirements are set out in state-based strata and community title legislation. While the principles are similar, details such as minimum cover, valuation frequency and disclosure obligations can differ significantly between states and territories.
Whether your building is in New South Wales, Victoria, Queensland or elsewhere in Australia, understanding your legal obligations is essential for committee members and owners.
Strata Insurance Requirements by State
New South Wales: Mandatory building and liability cover for strata schemes, with regular valuations recommended.
Victoria: Most owners corporations must insure common property and public liability to prescribed minimums.
Queensland: Body corporates generally insure common property and public liability; building insurance responsibilities vary with the scheme’s plan type and applicable rules.
Other states & territories: Similar obligations apply, with variations in detail and terminology.
Review high-level summaries and links to relevant legislation, and explore whether strata insurance is mandatory for your property on our articles page.
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Insurance for Strata Weekly News Wrap
This week: ARPC says the cyclone pool has processed over 130,000 claims worth about $1.65b and reinsures around 72,000 strata developments, with mitigation discounts available. The Federal Court fined an insurer $2m for delays on a storm claim, underscoring duties of fairness and timely action. A redrafted General Insurance Code would make some insurer promises contractually enforceable and auto‑accept undecided home or motor claims after 12 months, with any changes unlikely before 2028. Forecasters flag a stormy fortnight as hail and bushfire risks overlap; committees should focus on readiness, documentation, and sums insured.
Choosing suitable strata insurance involves more than accepting your renewal notice each year.
Consider the adequacy of your building sum insured, liability limits, optional extensions and the claims service offered by different strata insurance providers. Committees may wish to seek multiple strata insurance quotes and undertake a structured strata insurance comparison to ensure the cover aligns with the building’s risk profile and budget.
Fresh industry attention on insurance tax reform has direct consequences for strata communities, particularly those already dealing with higher property premiums, weather risk and more demanding underwriting questions. The renewed debate centres on the way government charges, duties and emergency services funding mechanisms can sit on top of the underlying insurance price, making cover more expensive without necessarily improving the risk profile of the building. - read more
Renewed attention on strata governance in New South Wales is a timely reminder that insurance disclosure is now a front-line renewal issue for owners corporations, not a back-office formality. Following recent reforms aimed at improving transparency around strata management, commissions and third-party benefits, committees are under greater pressure to understand not only what cover they are buying, but how the placement has been arranged and paid for. - read more
The latest industry attention on Australia’s Cyclone Reinsurance Pool is a useful reminder that affordability reform is only one part of the strata insurance equation. The pool was designed to reduce the cost pressure created by cyclone risk, particularly across northern Australia, where residential strata schemes can face difficult renewal conditions because of wind, rain, storm surge and ageing building infrastructure. - read more
Fresh reporting on Australia's construction sector has highlighted a problem that strata communities cannot afford to treat as background noise: builder and trade contractor failures remain a live risk for apartment buildings, particularly where major repairs, defect rectification or insurance reinstatement works are required. - read more
Strata insurance requirements in Australia vary by state and territory. This guide explains the core obligations for owners corporations, bodies corporate and strata companies, including building cover, common property, public liability and practical compliance checks. - read more
In Australia, strata insurance is a crucial part of property ownership, offering peace of mind and financial protection. It's essential for property owners to understand what strata insurance entails and why it's so important. - read more
The sum insured and replacement cost valuation are two of the most important figures in a strata insurance policy. They influence premiums, help determine whether cover is adequate, and can affect how a strata scheme responds after a major loss. - read more
Strata insurance is a vital component of property ownership in Australia, particularly for those involved in apartment living or owning units within a shared building. It provides financial protection against various risks, ensuring that common areas, building structures, and shared amenities are covered in the event of damage or loss. This type of insurance is not just a safeguard for individual owners but a legal necessity, mandated by Australian law. - read more
Knowledgebase
Insurance Deductible: the amount that an insured is required to contribute toward an insurance claim as stipulated in an insurance policy. Otherwise known as the "policy excess".
This week: ARPC says the cyclone pool has processed over 130,000 claims worth about $1.65b and reinsures around 72,000 strata developments, with mitigation discounts available. The Federal Court fined an insurer $2m for delays on a storm claim, underscoring duties of fairness and timely action. A redrafted General Insurance Code would make some insurer promises contractually enforceable and auto‑accept undecided home or motor claims after 12 months, with any changes unlikely before 2028. Forecasters flag a stormy fortnight as hail and bushfire risks overlap; committees should focus on readiness, documentation, and sums insured.
