Strata Insurance Brokers
What is Strata Insurance (Residential & Commercial) ?
Residential & Commercial Strata Insurance are policies specifically designed to cover strata titled buildings, such as apartments, townhouse, units and business complexes. It offers property owners across Australia, comprehensive cover to protect their investment and keep the strata community safe and secure.
Strata Insurance is typically shared between the strata unit holders, known as the body corporate, meaning the owners of the individual units in a strata scheme.
As each state and territory has their own legislative requirements for Strata Insurance, its good to know Cowden have you covered with offices in Perth, Adelaide, Melbourne and Sydney.
What is Residential Strata Insurance ?
Residential Strata Insurance is compulsory in Australia. It protects buildings, common contents and shared areas in residential complexes against incidents such as fire, storm, theft, malicious damage (option for flood) and legal liabilities. A body corporate or owner’s corporation requires Residential Strata Insurance. Call Cowden’s professional insurance brokers to discuss your Strata Insurance needs today.
Protection for the building which includes outbuildings, driveways, lifts, gates and fences, in-ground pools and spas.
Covering shared contents such as domestic garden equipment, pools and spas that are not in-ground and other general contents intended for shared use.
Covers legal liabilities for personal injury or property damage in connection with the insured property/common area.
Cover for temporary accommodation, rent and storage if your property is made unfit to be occupied for its intended purpose.
Covers the owners’ corporation for financial losses that come about due to fraud or theft.
Covers compensation payable in the event a voluntary worker suffers injury (or death) whilst doing unpaid work for the owners’ corporation.
Provides cover for the cost of professional fees if you are audited by the ATO or another government organisation, the cost of appealing against common property health and safety breaches and the cost of defending specific litigation brought against you.
Essential for properties that have lifts, escalators and elevators, but also covers shared electronic, electrical and mechanical machinery.
Cover for legal expenses that may arise from claims made against the Office Bearers of the strata-titled property. for the building which includes outbuildings, driveways, lifts, gates and fences, in-ground pools and spas.
Optional cover to protect against the escalation of building costs that occur due to a declared catastrophic event.
Option for fixtures or structural improvements installed by a lot owner for their exclusive use and which is permanently attached to or fixed to the building so as to become legally part of it.
What is Commercial Strata Insurance?
commercial strata titled properties such as office buildings, retail shops and multi-unit complexes.
The coverage is similar in nature to Residential Strata but from a commercial aspect,
providing cover for building and common area contents and liability for the corporate body.
Commercial strata title properties are mandated under legislation per state or territory to hold Strata Insurance.
Call the professional insurance brokers at Cowden today who can tailor the coverage to your specific commercial strata needs.
Why Choose Cowden For Your Strata Insurance?
With offices in Perth, Adelaide, Melbourne, and Sydney, we’re one of Australia's most well-regarded professional insurance brokers.
As experienced insurance brokers around Australia, we deeply understand the strata property market. We have the experience and expertise to tailor your insurance so you are properly protected.
We provide a wide range of coverage options to ensure the security of your strata property.
We provide flexible, customised insurance policies that perfectly match your business requirements.
Our team is dedicated to building lasting relationships, offering consistent support and advice.
Our ability to consistently find the correct solution based on our clients needs has built the trust and loyalty that thousands of Australians have in us.
Cowden Limited was founded in 1972 and through growth and acquisition has become a major force in the Australian insurance market.
95% of new business is by-way-of referrals from our satisfied clients.
We use cutting-edge technology to give you the most cost effective insurance solution.
Along with our 50 years of experience, we hold an Australian Financial Services Licence.
Providing you with peace of mind that we have proven and authoritative service.
The insurance premium is based on several factors such as the property’s location, the purpose and condition of the building, and communal property, i.e., is there a swimming pool.
Like all insurances, there are general exclusions, often a deductible or excess and limits on cover, and in some instances, flood may not be covered or may be available as an option for an additional premium.
Yes, Strata Insurance is mandatory and legislation varies with every state and territory. It is the responsibility of the Owners’ Corporation to ensure the policy meets legislative requirements, e.g., insure the building against damage caused by fire and other perils and legal liability cover.
No, Strata Insurance does not cover your contents or personal belongings. Our brokers can explain the coverage to you and arrange a separate policy for your personal needs, including your personal liability cover.
At the first opportunity contact us. We will be there every step of the way. We will help you notify the insurer, explain how the pay your excess, gather and submit the right paperwork and see it through to the end of the claim.