Flexibility - design your own policy
Market leading flexible strata insurance with the ability to customise your policy to suit your strata building.
Why pay for cover you don’t want? Flex Residential Strata Insurance lets you choose what’s in and what’s out, while still protecting all the basics.
Every insurance policy needs to start somewhere, and we start with the cover that your state’s laws may require and build from there. All our policies include the basics; insurance for the property and public liability.
Automatic inclusions (required by law):
Your property
All standard strata insurance policies begin with your property. This cover insures you for the cost of any damage or repairs to your buildings and common areas, including wiring and plumbing, flooring and strata-owned fixtures that are part of the general fabric of the building.
At last, strata insurance that lets you include only those things you need. At Flex Insurance we don’t believe that one-size-fits all, so we let you tailor your cover by adding in options.
It’s simple, straightforward and saves you money. What more could you ask for?
Compulsory in NSW but optional in all other states and territories, voluntary workers' insurance covers anyone who is injured (or worse) while doing unpaid work for your owners’ corporation.
Optional in all states except SA, fidelity guarantee covers your owners’ corporation for financial losses that come about due to fraud or theft.
If your strata committee is involved in a law suit, this inclusion can help cover the cost of defending the legal claim against you, and any payments your committee members need to make.
Important for when you have lifts and elevators, but it also covers shared appliances such as fused motors in communal washing machines, basement water pumps or, in most states, even air conditioners.
When serious disaster strikes, such as bushfire, cyclone or earthquake, this option comes into effect when the government declares a catastrophe. It covers the increased cost of building and repairs, due to the huge demand for builders and tradespeople.
Provides cover in the event of a government audit, protection if the Body Corporate needs to appeal an unreasonable Order imposed by a statutory body and provides cover for legal defence costs
This option is available to cover any shortfall between your building’s estimated replacement cost and its actual replacement cost when any improvements or renovations made by the property owner are included which the Body Corporate may not have been aware of.
Big or small, experienced or new to the game, Flex Insurance takes the stress, guesswork and expense out of strata insurance, with user-friendly policies that you can tailor to suit your needs. If you need help with managing your strata property or insurance advice, we can refer you to an expert.1
Your clients will love you when you tell them you can save them money and still give them peace-of-mind, because that’s what we’re here for – professional service, general advice, flexible policies and value for money.
Whether you specialise in strata or it’s just part of your insurance service, we’re here to help you provide the best assistance to your clients, by offering outstanding tailor-made cover that’s affordable and reliable.
1 Flex Insurance will not receive a referrer fee for this.
Market leading flexible strata insurance with the ability to customise your policy to suit your strata building.
Flex cuts through the confusing insurance jargon with easy to understand strata policies helping you choose the right cover for you.
24/7 claims service and support with emergency assistance to get you back on your feet as soon as possible.
Brought to you by Australia’s first and leading strata specialist CHU Underwriting Agencies.
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Product Disclosure Statement and Policy Wording for policies effective from 1 October 2023 | Download |
What has Changed for PDS and Policy Wording effective 1 October 2023 Outlines key policy changes, and should be read in conjunction with latest Product Disclosure Statement and Policy Wording. |
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Product Disclosure Statement and Policy Wording for policies effective from 1 January 2022 - 30 September 2023 | Download |
Target Market Determination (TMD) Target Market Determination is a document that describes who the product is appropriate for (target market), and any conditions around how the product can be distributed to customers. |
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PDF Quote Form Download and complete a pdf quote form |
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In every Australian state and territory, residential strata insurance is a legal requirement for residential strata properties. At minimum it must cover repair or replacement of the building, common property and common area contents, plus public liability claims for personal injury or property damage that occurs on common property. Some states also require cover for workers or against committee fraud.
In addition to major but rare acts such as terrorism, nuclear accidents and war, strata insurance also does not cover cyber incidents, loss of electronic data, asbestos-related damage or injury, any loss, damage or costs arising from communicable diseases, or any costs stemming from intentional damage caused by the body corporate or its agents.
The contents of individual units within a strata property are also excluded from strata insurance. Instead, these should be covered by the unit owners own contents insurance.