Owning or managing a commercial property with shared spaces—such as office buildings, retail centers or industrial complexes—requires a proactive approach to safeguarding your investment and ensuring smooth operations. Shared areas like lobbies, lifts, parking lots and other facilities play a critical role in the functionality and appeal of these properties, making appropriate insurance coverage essential.
Commercial strata insurance is designed to address the unique challenges of commercial properties. It provides financial protection for the building structure and common property areas, reducing the financial risks associated with damage, liability claims or unforeseen incidents. Premiums are generally managed by the owners’ corporation, which oversees the property on behalf of all owners.
For multi-tenant office spaces, retail complexes or industrial properties, commercial strata insurance helps mitigate potential financial disruptions, ensuring that the property remains operational and compliant with legal obligations, even in the face of unexpected challenges.
At DKG Insurance Brokers, we understand that the needs of each client are different, therefore we will take the time to assess your individual risk requirements and deliver a bespoke solution. Please reach out to one of our experienced brokers today.
Important note − The information provided is general advice only and has been prepared without taking into account your objectives, financial situation or needs. When making decisions about commercial strata insurance, please consider the Product Disclosure Statement.
At DKG Insurance Brokers, we understand the complexities of managing commercial properties. Commercial strata insurance isn’t just about compliance—it’s about ensuring shared spaces and facilities remain protected against unexpected risks, so owners can focus on maximising the value and functionality of their investments.
Commercial strata insurance can provide comprehensive protection for the building, common areas and shared property under the owners’ corporation’s responsibility. The scope of cover and premium costs depend on the type of property, location, and facilities shared.
| Type of cover | Potential benefits |
|---|---|
| Building and common contents | Covers the building and common property, such as foyers, lifts, shared equipment and furnishings. Can include cover for loss of rent or alternative premises if a claimable event renders the property unusable. |
| Public liability | Covers injury or damage to people or property occurring in common areas. |
| Optional cover | |
| Personal accident for voluntary workers | Compensation for injuries sustained by individuals volunteering on behalf of the owners’ corporation. |
| Office bearer’s liability | Protects office bearers against claims resulting from wrongful acts performed in their capacity. |
| Fidelity guarantee | Covers losses due to misappropriation of funds owned by the owners’ corporation. |
| Mechanical and electrical breakdown | Covers damage to machinery or electrical systems resulting from mechanical or electrical faults. |
What usually isn’t covered?
As with all insurance, exclusions, excesses and limits of liability vary by provider. Common exclusions for commercial strata insurance include:
- Pre-existing damage or maintenance issues.
- Wear and tear, rust or corrosion.
- Damage caused by structural defects.
- Property owned by individual unit holders (e.g. stock or equipment within individual units).
Important note − The information provided is general advice only and has been prepared without taking into account your objectives, financial situation or needs. When making decisions about commercial strata insurance, please consider the Product Disclosure Statement.
At DKG Insurance Brokers, we understand the complexities of managing commercial properties. Commercial strata insurance isn’t just about compliance—it’s about ensuring shared spaces and facilities remain protected against unexpected risks, so owners can focus on maximising the value and functionality of their investments.
At DKG Insurance Brokers, we understand the complexities of managing commercial properties. Commercial strata insurance isn’t just about compliance—it’s about ensuring shared spaces and facilities remain protected against unexpected risks, so owners can focus on maximising the value and functionality of their investments.