Residential strata
What is residential strata insurance?
Built on decades of experience, shaped by the changing needs of strata, and grounded in a commitment to giving clients greater peace of mind and support when they need it most.
A now mandated policy, a Residential Strata policy responds to the physical building, common areas and shared infrastructure, providing protection for the people owning, occupying and responsible for the scheme.
In an evolving litigious landscape, the policy will also look to provide coverage for the property’s Liability and Financial risks. This is achieved with Public Liability for the Strata Scheme, Office Bearers or Management Liability for its Committee Members, Fidelity Guarantee, Workers Compensation and Legal Expenses Coverage.
Who it is for
Understanding who can arrange cover for a residential strata scheme.
The way residential strata insurance is arranged will usually depend on how the scheme is managed and who is responsible for making decisions on behalf of the building.
Owners corporations and committees
For self-managed schemes, authorised representatives of the owners corporation or a strata committee can arrange cover on behalf of the building.
Strata or Asset Managers
For professionally managed schemes, cover is typically arranged by a strata manager or property manager acting on behalf of the owners corporation.
What it can include
Protection shaped around the realities of residential strata.
Depending on the building, the scheme and the cover selected, residential strata insurance may include protection for a range of shared property risks, liabilities and events that affect the property as a whole.
Building & Common Property
Protection for the physical building and shared utility including walls, floors, ceilings, lifts, carparks.
Public Liability
Cover for liability risks that may arise in connection with common areas and shared property.
Common Contents
Protection for shared items and assets owned by the scheme and used across the property.
Loss of Rent / Temporary Accommodation
Financial assistance for the owners and occupants in the event the property becomes uninhabitable.
Office Bearers Liability
Coverage and support for committee members against financial loss or legal liability arising from wrongful acts whilst acting in the capacity as an office bearer.
Equipment or Machinery Breakdown
Protection for sudden and unforeseen losses to mechanical and electrical failures to utility and equipment.
Optional Additional Covers
Other protections may be available depending on the building and location such as flood, paint and floating floors.
Why ABS Strata
Specialist advice backed by experience in strata risk.
Residential strata insurance requires a clear understanding of shared risk, compliance obligations and the way buildings are managed. ABS Strata works closely with committees and strata managers to structure cover that responds properly when it matters.
Shared and community living in Australia is on the rise, and no two schemes are the same. Speak to our specialist team and ensure your scheme is getting the right guidance and support it deserves.
Strata-focused expertise
Not general insurance advice. Built specifically around strata legislation, building requirements and shared ownership structures.
Access to leading insurers
Policies are sourced from established insurers with the scale and appetite to support residential strata risks.
Support when it matters
From placement through to claims, ABS Strata works alongside committees to help navigate complex situations with clarity.