Insurance for Strata Articles

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Strata Insurance Articles

Understanding Strata Insurance: A Guide for Apartment Owners

Strata insurance is a specific type of insurance policy designed to cover common property and areas shared by owners within a strata-titled development, such as an apartment complex. This unique insurance is crucial for apartment owners as it ensures financial protection against unexpected events affecting the building structure and common facilities. It typically covers parts of the property like the building’s exterior, lobbies, and gardens. - read more

Navigating State-Based Insurance Requirements for Strata Property Owners

Strata insurance is a crucial aspect for property owners across Australia. Owning a property within a strata scheme means you're not just responsible for your unit but also share responsibility for common areas, which requires adequate protection against potential risks. - read more

Decoding Strata Insurance: Key Terms and Perspectives

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

Strata Insurance FAQs: Your Most Pressing Questions Answered

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

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Insurance News

NSW Productivity Commissioner Calls for Ban on Strata Manager Commissions

05 Apr 2026: Paige Estritori

The New South Wales Productivity Commissioner, Peter Achterstraat, has recommended the prohibition of commissions received by strata managers for securing insurance and other contracts. This move aims to enhance transparency and protect the interests of apartment owners, especially as strata living becomes increasingly prevalent in Sydney. - read more

Grace Insurance Strengthens National Presence with Add Insure Darwin Acquisition

05 Apr 2026: Paige Estritori

Grace Insurance has announced the acquisition of Add Insure, a well-established brokerage based in Darwin, Northern Territory. This strategic move, set to finalise on 20 April 2026, marks a significant milestone in Grace Insurance's national expansion strategy and its entry into the strata insurance market. - read more

Flex Introduces 'Flex Complex' for High-Risk Strata Properties

28 Mar 2026: Paige Estritori

In October 2025, Flex, a strata underwriting agency, unveiled 'Flex Complex', a new insurance product designed to provide coverage for strata buildings facing challenges in securing insurance due to complex risk factors. This initiative aims to fill a significant gap in the market by offering protection to properties that have traditionally struggled to obtain mandatory strata insurance. - read more

CHOICE Advocates for Government Inquiry into Undisclosed Strata Insurance Commissions

28 Mar 2026: Paige Estritori

In September 2024, consumer advocacy group CHOICE, along with several allied organizations, called for a government inquiry into undisclosed commissions and conflicts of interest within the strata insurance industry. This demand follows a CHOICE investigation that revealed widespread backroom dealings between strata management companies and insurance brokers, leading to increased costs for unit owners. - read more

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Knowledgebase

Insurable Interest:
A financial or other kind of interest in the insured item or person, necessary for a valid insurance contract.

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