Strata Insurance, also known as body corporate insurance, plays a crucial role in protecting shared properties or those with multiple owners such as apartments, office blocks, and retail complexes. UniTrust Insurance Broker LLC assists in arranging Strata Insurance policies that cover common or shared property under the management of a strata title or body corporate entity.
Our dedicated and experienced team takes time to comprehend your needs and the specific risks associated with your strata property. By leveraging our strong relationships with top insurance partners, we work diligently to arrange a Strata Insurance policy that is comprehensive, affordable, and well-suited to your unique needs.
Building and Common Contents
Strata Insurance, also known as body corporate insurance, is a type of insurance that covers shared or common areas in properties with multiple owners, such as residential blocks, offices, and retail complexes.
Strata Insurance is vital because it offers protection for shared or common properties managed under a strata title or body corporate entity. It typically covers areas that aren’t covered by individual property owners’ insurance policies.
A standard Strata Insurance policy covers building and common contents, public liability, catastrophe cover, machinery breakdown, workers’ compensation, and fidelity guarantee. However, the exact coverage can vary depending on the specific policy arranged.
Strata Insurance is generally required by law for strata title properties. This includes residential apartment buildings, commercial buildings such as office blocks and retail complexes, and mixed-use properties.
UniTrust’s team of experienced professionals works closely with clients to understand their specific needs and risks associated with their strata property. We use our relationships with reputable insurance partners to arrange a policy that offers comprehensive and cost-effective coverage.