As an owner or manager of a strata property, it’s essential to have comprehensive insurance coverage to protect the collective interests of all owners and residents. Strata Insurance provides specialised coverage designed specifically for strata-titled properties, ensuring peace of mind and financial protection against a range of risks and liabilities.
Key features and benefits of Strata Insurance include:
- Building and Common Area Coverage: Protection for the physical structure of the building, including common areas such as lobbies, stairwells, elevators, and recreational facilities, against perils like fire, storms, vandalism, and more.
- Public Liability Coverage: Coverage for legal liabilities arising from injuries or property damage suffered by third parties within the strata property, offering financial protection in case of a liability claim or lawsuit.
- Loss of Rent or Rental Income: Coverage for loss of rental income if a strata unit becomes uninhabitable due to an insured event, providing financial support during the restoration period.
- Machinery Breakdown Coverage: Insurance for machinery and equipment within the strata property, such as lifts, HVAC systems, and pumps, protecting against breakdowns and associated repair or replacement costs.
- Office Bearers’ Liability Coverage: Protection for the strata committee members against legal liabilities arising from their role, including alleged mismanagement, errors, or omissions in decision-making.
- Catastrophe Cover: Coverage for damage caused by natural disasters such as earthquakes, floods, or cyclones, ensuring financial protection for extensive repairs or reconstruction.
At IMC Insurance Brokers, we specialise in providing tailored Strata Insurance solutions for strata-titled properties. Our comprehensive policies are designed to meet the unique needs and challenges faced by strata communities, offering reliable protection and valuable benefits.
Our dedicated team of insurance experts will work closely with you to assess the specific requirements of your strata property and customise a policy that suits your needs. We understand the complexities of strata insurance and can provide guidance, support, and prompt claims assistance throughout the insurance journey.
For a Strata Insurance quote, CLICK HERE to complete our online form.
To learn more about Strata Insurance and how it can safeguard your strata property, call us on 1300 251 253.
