Commercial and Residential Strata Insurance 

Protect your property and stress less with CIA’s dedicated strata team. 

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What Is Commercial And Residential Strata Insurance?

Commercial and residential strata insurance covers common contents and property under the management of a strata title or body corporate entity. This form of insurance generally includes cover for the building and common property, as well as its contents.

Strata building insurances in Australia are designed for properties that are part of a shared ownership arrangement, such as townhouses, office buildings, retail units, or apartments. It covers the building itself and common areas around the property, securing its owners in the event of damage.

Having residential strata insurance is necessary if you own a townhouse, unit or apartment and you are sharing common space with others . Strata insurance is also compulsory in every state as part of the owner’s corporation obligation. An experienced insurance broker can arrange the right strata insurance that protects your residential and commercial property. 


What Does Commercial And Residential Strata Insurance Cover?  


Damage to building and contents in common areas, such as equipment and furniture.


Cover for loss of rent or alternative accommodation due to damages to building.


Public liability as a result of third-party injury or property damage on common property


Compensation to third party’s who suffer injuries while carrying out voluntary works on behalf of the owners’ corporation


Loss arising from misappropriation of funds belonging to the owners’ corporation


Physical damage to machinery or electrical items caused by breakdown

Statistics To Consider 

 

Water damage, including
leaks, was the most
common cause of claims
between 2016 and 2020



1-in-5 Australians
live in strata
building



Storm damage accounted
for the most claims by
 value between 2016
and 2020






Case Study: Why A Commercial And Strata cover Makes
 All The Difference 

Scenario

Ken owned a studio apartment on the fifth floor of an inner-city apartment block. He is also part of the owner’s corporation for that apartment building. One day the lift broke down because a fire occurred in the fuse box. Although this fire was beyond their control, Ken and the owner’s corporation will now have to manage the lift repairs and their costs.

With Commercial And 
Residential Strata Insurance 

Fortunately, Ken and the other members of the strata committee had taken out strata insurance, which was managed by an insurance broker.
The repairs were carried out and their policy covered the cost, which meant that none of the strata members paid out of pocket as a result.

Without Commercial And 
Residential Strata Insurance  

Without strata insurance, Ken and the owner’s corporation will now have to pay for the repairs out of pocket - a costly affair from an unexpected event.



Find The Right Commercial And Residential Strata Insurance With Our Team

No two properties are ever the same, and it's important that the owner's corporation understand the fine print of their insurance cover before applying for commercial and strata insurance.

At CIA, we’ll ensure that you have the right cover for your unique investment. With a portfolio of over 2,000 policies under our belts, CIA protects owner’s corporations with tailored insurance that protects them. 

Building owners often take shortcuts with insurance and get caught in the fine print. Our dedicated strata team will provide objective, professional advice based on years of experience to ensure this doesn’t happen to you. 


Why Choose Consolidated Insurance Agencies?

With a deep understanding of businesses across a range of industries, our brokers can effectively determine your company’s specific risk profile and tailor the right insurance policy - saving you valuable time researching and comparing cover options.

As part of the Steadfast network, our brokers have the power to negotiate better prices and policy terms for you. You can also gain access to exclusive Steadfast policy terms that offer broader and more comprehensive coverage. No matter your needs, we can ensure your risks are covered by arranging customised policy options. This means better business protection at competitive prices.

Enjoy the backing of Australia’s largest general insurance broker network, which manages more than 3.2 million policies for small to medium businesses. As part of the Steadfast network, CIA gives you access to policies across local and international markets - helping you find the coverage you need.

Find The Right Insurance Or Review Your Existing Cover Here

Contact us to discuss your needs  

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