Residential Strata - DKG Insurance Brokers
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Residential 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.

Residential strata insurance protects the building and common areas or facilities with the premiums paid for by the owners’ corporation.

Residential strata insurance is compulsory in every state – so if you’re part of an owners’ corporation in a townhouse, unit, flat, apartment or duplex, the owner’s corporation will need strata insurance. An insurance broker can arrange strata insurance on behalf of the owners’ corporation.

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 strata insurance, please consider the Product Disclosure Statement.

“Strata insurance is complex and owners corporations and corporate bodies need trusted people to navigate them to the best outcome.”
Strata Community Association, 2021

Residential strata insurance can cover the building and all common or shared property and contents which belong to the owners’ corporation. The type of cover and its cost will depend on the kind of building, where it’s located and the amount of common property you share.

Type of cover Potential benefits
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 For office bearer’s if a claim arising from wrongful acts by the office bearers.
Fidelity guarantee Loss arising from 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.
  • Certain property features such as fencing.
  • Contents within apartments.

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 residential strata insurance, please consider the Product Disclosure Statement.

“Strata insurance is complex and owners corporations and corporate bodies need trusted people to navigate them to the best outcome.”
Strata Community Association, 2021

“Strata insurance is complex and owners corporations and corporate bodies need trusted people to navigate them to the best outcome.”
Strata Community Association, 2021