Strata Insurance
Contact Baynyi Ausure for your Strata Insurance needs.
What is strata insurance?
If you own a townhouse, unit, or apartment and you’re sharing common space with others, you don’t want to be left to foot the bill if there’s damage to shared parts of the building or items.
Strata insurance protects the building and common areas or facilities, with the premiums paid for by the owners’ corporation.
Who should consider it?
Strata insurance is compulsory in every state – so if you are a lot owner in a townhouse, unit, flat, apartment or duplex, the owner’s corporation will need strata insurance.
What can it cover?
| Type of Cover | Potential Benefits |
|---|---|
|
Compulsory covers |
|
|
Building and common contents |
Building and common content including equipment, furniture, carpets etc in any common area for which the owners’ corporation is responsible. This can include cover for loss of rent or alternative accommodation due to an insured peril. |
|
Public liability |
If people are injured on common property. |
|
Optional covers |
|
|
Personal accident for voluntary workers |
Compensation to any person injured while carrying out voluntary works on behalf of the owners’ corporation. |
|
Office bearer’s liability |
Office bearer’s liability For office bearer’s if a claim arising from wrongful acts by the office bearers |
|
Fidelity guarantee |
Loss arising from the misappropriation of funds belonging to the owners’ corporation |
|
Mechanical and electrical breakdown |
Physical damage to machinery or electrical items caused by breakdown |
What usually isn't covered?
Exclusions, the excess you need to pay and limits of liability can vary greatly depending on your insurer. Policies generally won’t include cover for:
- Asbestos or asbestos derivatives
- Erosion or earth movement
- Contents within apartments.
INDUSTRIES WE SERVE
- Indigenous Corporations and Enterprises
- Local and State Government
- Construction & Infrastructure
- Health, Community, and Disability Services
- Education & Childcare
- Licensed Clubs & Sporting Organisations
- Agriculture & Land Councils
- Not-for-Profit and Social Enterprises
- Transport and Logistics
- Mining and Resources
- Manufacturing
- Professional Services
- Hospitality
- Real Estate and Property Development
- And many more
Speak to us about your Strata Insurance Needs:
Contact Baynyi Ausure
Our Insurer Partners
Let us do all the hard work for you! We compare policies from multiple insurers to ensure you have the right policy, the right price and most importantly – the right coverage.
Let Baynyi Ausure help you with your Strata Insurance needs.
Baynyi Ausure specialises in delivering tailored insurance and risk solutions for indigenous and non-indigenous businesses across a diverse range of sectors. . We are part of Australasia’s largest general insurance broker network, the Steadfast Group. We leverage Steadfast’s scale to ensure our clients have access to a wide range of insurance companies, a broad range of products, exclusive policy options, and of course, competitive pricing. And when the time comes and you need to make a claim, you will have the backing of Steadfast behind you.
