Residential and Commercial Strata Insurance, also known as body corporate insurance, is compulsory in most states of Australia. While each state or territory has different legislative requirements for properties which are part of a strata title, it falls on the owners and committee members to ensure that they have a policy which meets those requirements.
In NSW, a strata-titled property must hold an insurance policy which covers the building, common property, liability and voluntary workers. Strata committees may also wish to add additional coverage for fidelity, office bearers liability, machinery breakdown, catastrophe, government audits, flood or internal wall paint.
Strata insurance can be complicated and confusing, and finding an insurance policy that is right for you, and by law can often be difficult. Lake Macquarie Insurance Services takes the time to find an insurance solution that suits the needs of your strata committee and are there for you to help with claim lodgement, management and resolution.
To find out more about strata insurance, or to obtain a quotation, please contact our office and talk to one of our representatives.