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28 May 2020

How to save your clients money on their residential strata insurance

As we all know, we live in unprecedented times. During these times strata property owners may be facing financial hardship, job insecurity and cash flow issues but owners’ corporations/body corporates still need to adequately insure their residential strata property while trying to save money.  

Reflecting this need in March and April, Flex Insurance experienced its highest volume of new business and engaged a number of new intermediaries.

“While we have continued to grow quickly the growth throughout March and April was unprecedented” said Flex Insurance General Manager Frank Scamarcia.

Now is the time to try Flex Insurance

Flex offers one of the most flexible residential strata insurance products on the market. Flex Insurance is available 24/7 on the StrataTech Platform

Flex offers the choice of tailored to fully comprehensive cover at an affordable price point. Cover can be tailored through a range of optional inclusions and is suitable for small to large residential strata buildings.

The range of optional inclusions you can choose to remove includes floating floorboards, fusion, extended temporary accommodation and rent, government audit costs and expenses. When you make changes on Stratatech you get live pricing, so there is no need to ring and make changes.

Comprehensive Cover Available

If comprehensive cover is required then with 1 click you can option up and obtain a quote for comprehensive cover.

Through 40 years’ experience Flex Insurance provides comprehensive cover at an affordable price point through lowered limits and cover on certain benefits coupled with the removal of few special features.

Importantly while being able to offer comprehensive cover at an affordable price point through selected lowered sub limits Flex matches CHU on key features including defects, asbestos, cladding, total sum insured and claims. Claims are managed through the dedicated local and national CHU claims team, available 24/7, and backed up with 24/7 claims service and support with emergency assistance.

Flex Residential Strata Plan Insurance

Automatic Inclusions: Insured Property (the common property and the building), Liability to Others, Voluntary Workers (NSW only), Fidelity Guarantee (SA only)

Optional Inclusions: Ability to include one or more the following covers:

  • Voluntary Workers’ (Optional in all states except NSW)
  • Fidelity Guarantee (Optional in all states except SA)
  • Office Bearers’ Liability
  • Machinery Breakdown
  • Catastrophe
  • Government Audit costs, Appeal and Legal Expenses
  • Lot Owners’ Fixtures and Improvements

Getting started is easy

For more information on Flex Residential Strata Plan Insurance in your state:

Strata insurance NSW
Strata insurance VIC
Strata insurance QLD
Strata insurance SA
Strata insurance WA

To access Flex Insurance Residential Strata Insurance through your StrataTech login click here.

If you have any questions regarding Flex Insurance click here.

 

 

CHUiSAVER Underwriting Agency Pty Ltd (ABN 85 613 645 239, AFSL 491113) trading as Flex Insurance acts under a binding authority as an agent for certain underwriters at Lloyd’s and QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545), the insurers of the products.

Terms, conditions, limits and exclusions apply to the products referred to above. Any advice contained on this website is general advice only and has been prepared without taking into account your objectives, financial situation or needs. Before making a decision to purchase the product or to continue to hold the product we recommend that you consider whether it is appropriate for your circumstances and read the Product Disclosure Statement (‘PDS’), Target Market Determination (‘TMD’) and Financial Services Guide (‘FSG’), which can be which can be viewed on this website or obtained by contacting Flex Insurance directly.

Flex Insurance is a wholly owned subsidiary of CHU Underwriting Agencies Pty Ltd (ABN 18 001 580 070, AFSL 243261) (‘CHU’). CHU is a wholly owned subsidiary of Steadfast Group Ltd (ABN 98 073 659 677) (‘SGL’). SGL may receive a professional services fee (‘PSF’) from insurers, premium funders and underwriting agencies such as Flex Insurance and CHU (‘Partner’) for access to regulatory and compliance support; marketing and communications; data insights; and access to technology platforms. The PSF is an agreed amount between SGL and the relevant Partner, usually annually. The PSF is not determined by the volume of the business that the Steadfast Network brokers place, nor is the amount of the PSF known to the Steadfast Network Brokers, so it is not able to influence recommendations to their clients.

Flex Insurance may have access to shared services from SGL, including: compliance tools; procedures; manuals and training; legal; HR banking; and group purchasing arrangements. These services are funded by SGL, subsidised by SGL or SGL receives a fee for them. SGL’s FSG is available at www.steadfast.com.au or on request by telephoning SGL’s Company Secretary on +61 2 9495 6500.

Copyright © 2024 CHUiSAVER Underwriting Agencies Pty Ltd