Residential Strata
Insurance
Protecting a strata property goes beyond individual units; it requires coverage for shared ownership and associated liabilities. At Insuregroup, we help clients secure residential strata insurance that meets legal requirements and provides practical coverage for body corporates, strata managers and property owners.
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What is Residential Strata Insurance?
Residential strata insurance provides cover for the shared areas and common property within a residential strata-titled complex. This includes apartment buildings, townhouses, and multi-dwelling sites managed under a body corporate or owners corporation.
Mandatory in most Australian states and territories, residential strata insurance typically includes protection for the building’s structure, common area contents, public liability, and certain legal expenses. Experts in residential strata insurance, at Insuregroup, our network and membership with associations such as the Steadfast Group give us access to a wide range of insurers, policies and pricing options.
Why is Strata Insurance needed?
Who is it for?
Strata insurance is a legal requirement for most strata-titled properties in Australia, including apartment blocks, townhouses, duplexes, and mixed-use buildings. It protects lot owners by covering shared risks like structural damage, common area contents and public liability, things not covered by individual home insurance.
At Insuregroup, we support property managers and committees across Australia with sourcing compliant, considered strata insurance solutions that align with your legal obligations and building requirements.
Why Insuregroup?
MONTHLY INSTALMENTS
We offer flexible payment options for residential strata insurance, helping you manage your budget and maintain consistent coverage.
EXPERT ADVICE
With years of experience in residential strata insurance, our team provides expert guidance to ensure you secure appropriate cover for your property.
QUICK QUOTES
Need strata insurance fast? We offer timely quotes so you can secure coverage without any hassle or delays.
RANGE OF OPTIONS
We work with a wide network of insurers to provide a variety of residential strata insurance options, ensuring you find a solution for your property needs.
What Does Residential Strata Insurance Cover?
While cover can vary between insurers and the level of protection you choose, a standard residential strata insurance policy is designed to protect the shared property and financial interests of all lot owners. It focuses on common risks that individual contents or home insurance won’t address.
Typical inclusions are:
Building and structural cover
Including walls, roofing, balconies, and other permanent fixtures.
Common contents
Items such as gym equipment, lobby furniture, and shared area appliances.
Public liability
Cover for third-party injury or property damage that occurs in shared areas.
Legal liability for office bearers or strata committee
Protection for decisions made in good faith during the management of the property.
Loss of rent or temporary accommodation
If an insured event makes the property uninhabitable.
Optional benefits may also be available, including catastrophe cover or voluntary workers insurance. Insuregroup can walk you through suitable options and help ensure your policy meets both compliance and coverage needs.
What Isn’t Covered by Residential Strata Insurance?
Like all insurance policies, residential strata insurance comes with exclusions or specific situations or items that aren’t covered under the policy. Understanding these limitations is just as important as knowing what is included, to avoid unexpected gaps in coverage when you need it most.
Common exclusions can include:
Contents inside individual lots
Owners are typically responsible for insuring their own contents.
Damage due to wear and tear or neglect
Includes ageing infrastructure or maintenance-related issues.
Unauthorised renovations or alterations
Work carried out without approval or council permits may be excluded.
Owner or tenant negligence
Damage caused by intentional acts or failure to follow safety rules.
Always refer to the Product Disclosure Statement (PDS) for information on exclusions, as they vary by insurer. Not sure whether your property’s risks are fully covered? Our expert brokers at Insuregroup can assist you in reviewing your current policy or sourcing a new one that aligns with your requirements.
Online Insurance Quote
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Our
Process
The Insuregroup insurance process – insurance solutions on demand.
01
Submit a Quote Request
Online or Call Us Directly
02
We Source
Competitive Quotes
03
Receive a Clear,
Detailed Quote Summary
04
Finalise
& Get Covered
Frequently Asked Questions
What Are Common Area Contents?
Common area contents refer to items located in shared spaces like foyers, hallways, gyms, or gardens. This can include furniture, fitness equipment, decorative pieces, or outdoor fixtures. These items are typically included under a residential strata insurance policy and are important for protecting the value of shared assets.
How Do I Know How Much to Insure My Building For?
To get the correct sum insured, a professional valuation or insurance replacement cost estimate is highly recommended.
This helps ensure your residential strata insurance quote reflects the full rebuild cost of the property, including construction, labour, and debris removal. Obtaining this and insuring accordingly can help to avoid being underinsured in the event of a major loss.
I Have Residential Strata Insurance, Do I Need Any Other Insurance?
Yes. While residential strata insurance covers shared property and building structure, individual unit owners should still consider separate contents insurance to protect their belongings, appliances, and any non-standard fixtures within their own lot, which aren’t covered by the main strata policy.
Who Is Responsible for Arranging Residential Strata Insurance?
Typically, the body corporate or owners’ corporation is responsible for arranging and maintaining the residential strata insurance policy. This covers the entire building and shared areas on behalf of all lot owners and ensures compliance with state legislation and risk management obligations.
Does Strata Insurance Cover Individual Unit Contents?
No. Residential strata insurance generally excludes personal contents such as furniture, clothing, and electronics inside individual units. Owners should take out a personal contents insurance policy to ensure their belongings are covered in the event of damage, theft, or loss.
Are Fixtures and Fittings Inside the Unit Covered?
Coverage for fixtures and fittings, such as benchtops, cabinetry, or flooring, can vary. Some residential strata insurance policies may include these items, depending on how ownership is defined in the strata plan. Always review your policy or check with a broker to confirm what’s included.
Are monthly premiums available?
Yes, we can arrange monthly payments. Easy and stress free!
When will insurance certificates be provided
How long does it take to effect cover and produce certificates?
The time taken for insurers to confirm the cover request is generally no longer than half an hour. We demand the best in quality and reliability and for this reason we have access to over one hundred national and international insurance providers. Being specialists in insurance, you can be confident our insurers will respond in a prompt and proficient manner, allowing us to deliver much quicker insurance quotes than many of our competitors
What about Insuregroup?
At Insuregroup, we have no affiliations with any insurers, so you’re guaranteed that we act solely in your best interests – our service is transparent and honest. This means when we search through insurance policies within our network of insurers, we select only those offering the most extensive cover for the most competitive available price!