CHU Revamps Residential Strata Insurance Policies

One of the key additions is an optional lot owners' cover, which addresses the gap between traditional strata insurance and individual contents policies. This cover includes fixtures and fittings such as home appliances, curtains, and carpets, but excludes personal items like clothing or jewellery. By offering this coverage, CHU enables owners to deal with a single insurer when both common property and certain contents are affected, thereby streamlining the claims process.

Another notable change is the inclusion of office bearers' liability in all policies. This provision offers protection for committee members who may become legally liable while performing their duties. Given that disputes can arise regardless of the legitimacy of decisions, this addition provides an extra layer of security for both individuals and the committee as a whole.

To enhance clarity, CHU has restructured the policy wording. All building-related covers, including insured property, machinery breakdown, catastrophe cover, and lot owners' fixtures and fittings, are now consolidated into a single section. Additionally, some sublimits under the building insurance section have been increased, and sum insured defaults have been raised to better reflect replacement costs, thereby reducing the risk of underinsurance.

These policy changes took effect from August 2025 for all new and renewal policies. CHU's proactive approach in updating its offerings underscores its commitment to meeting the changing needs of strata communities and providing comprehensive, clear, and effective insurance solutions.