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Tell us about the scheme
Answer a few questions about the property, location, value and use.
What kind of strata insurance are you looking for?
The right starting point depends on the property, its use, location and building sum insured.
Residential strata
Cover for apartment buildings, units, townhouses and other mainly residential strata schemes.
Commercial and mixed-use strata
Cover for strata schemes with shops, offices, hospitality, industrial units or a substantial commercial area.
Location-sensitive properties
What providers will consider can differ in cyclone-exposed and regional areas. This comparison starts at state level; the provider must confirm the exact postcode.
Buildings with defects or cladding
Some specialist providers may consider buildings with known defects, cladding or a remediation plan. This does not mean the defect or remediation work is insured.
Why strata insurance is different
Strata insurance is arranged for the owners corporation, body corporate or other scheme entity. It covers the shared building risk rather than one owner’s belongings.
Provider choice can change with the property's legal title, residential and commercial mix, state, building sum insured and condition.
Many strata products are available only through an insurance broker. Others can be approached directly.
Some provider brands also share an underlying insurer or owner. A longer list of logos does not always mean more independent underwriting options.
What you'll need to get a quote
Having the main scheme records ready can reduce follow-up questions.
- The current policy schedule and certificate of currency.
- The building sum insured and latest replacement-cost valuation, if available.
- The number of lots and how the property is used.
- Claims history for the period requested by the provider.
- Basic building details, including age, construction and occupancy.
- Reports about defects, cladding, major works or remediation, where relevant.
- You can still use the comparison if you do not know every answer. Select "Not sure" where it is available.
How Specialist Compare works
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Review the results
See providers that fit the verified rules we hold. Some options may need broker or underwriting review.
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Choose who to contact
Review the provider, underlying insurer and contact route before deciding who to approach.
What affects the cost of strata insurance?
The premium is set by the insurer after it assesses the full risk. These are some of the main factors.
Building sum insured
The amount needed to rebuild or reinstate the insured property affects the insurer's potential exposure.
Location
Cyclone, flood, bushfire and other natural-hazard exposure can affect price, excesses and provider availability.
Construction and condition
Building age, materials, maintenance, defects and completed upgrades can affect underwriting.
Property use
Residential, commercial, industrial and short-stay uses can carry different risks.
Claims history
The number, type and cost of earlier claims may affect the terms offered.
Cover and excesses
Limits, optional sections and the excesses selected or imposed can change the total cost and what the policy provides.
What is strata insurance?
Strata insurance covers property and liabilities held collectively by a strata scheme, owners corporation, body corporate or similar entity.
The exact insurance duties and the boundary between common property and an individual lot depend on the state or territory, the survey plan and the policy wording.
Strata insurance does not replace an owner's contents or landlord insurance. Personal belongings and some fixtures inside a lot may need separate cover.
What strata insurance can cover
Cover differs between providers and policies. It can include:
Building and common property
Repair or reinstatement after insured damage to the building, common areas and body-corporate assets.
Legal liability
Claims where the insured scheme is legally liable for injury or property damage.
Temporary accommodation and loss of rent
Specified costs or lost rent when insured damage makes a lot unfit to occupy.
Voluntary workers
Benefits for people injured while doing authorised voluntary work for the scheme.
Office bearers and fidelity
Cover for certain committee liabilities or the dishonest loss of scheme funds. Limits and definitions vary.
Machinery and catastrophe extensions
Some policies include or offer cover for machinery breakdown, extra rebuilding costs after a declared catastrophe, cyber events or other scheme risks.
Defects, faulty workmanship, wear and maintenance are commonly excluded causes. A provider agreeing to consider a building with a defect does not mean the defect or its repair is covered.
Helpful guides
What does strata insurance cover in Australia?See how the scheme policy and an owner's own insurance usually divide responsibility.Strata insurance valuations and underinsurance in AustraliaUnderstand building sum insured, replacement value and when a new valuation may be needed.Residential vs commercial strata insuranceFind out how mixed use, commercial floor area and tenant activity affect the product route.How to compare strata insurance quotesUse a like-for-like checklist for premiums, fees, excesses, limits and underlying insurers.
Strata insurance FAQs
Is strata insurance compulsory?
Strata schemes generally have insurance duties under state or territory law, but the exact requirements and exemptions differ. Two-lot schemes and different survey-plan types can be treated differently. Check the rules for the property’s jurisdiction.
Who arranges strata insurance?
The owners corporation, body corporate or other scheme entity normally arranges the policy. A strata manager or insurance broker may handle the process under the scheme’s authority.
Does strata insurance cover everything inside a unit?
No. The boundary depends on the law, plan and policy. Personal belongings, carpet and some fixtures may need contents or landlord insurance held by the individual owner or occupier.
Can I get a strata quote without a broker?
Some providers accept direct enquiries or quotes. Many specialist products are broker-only, particularly for larger, commercial or unusual buildings.
Does strata insurance cover building defects?
The cost of fixing a defect, poor workmanship, wear or maintenance is commonly excluded. Some policies may respond to separate resulting damage, subject to their terms. A specialist provider may consider insuring the building while a defect or remediation plan exists, but that is not the same as covering the defect.
What is a building sum insured?
It is the amount recorded for the insured building, usually based on the cost to reinstate it rather than its sale price. A replacement-cost valuation can help the scheme set this figure.
Why do providers ask about commercial floor area?
Residential and commercial strata products can have different target markets. Some providers use a 20% commercial-floor-area boundary to route a scheme between products. This is a provider rule, not a single national legal definition.