Get a quote
Skip to Main Content

Residential Strata

Building insurance that you build yourself

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.

Flex strata insurance

Strata insurance is a specialised form of insurance designed for properties that are divided into multiple units, such as apartments complexes, townhouses, or even villas. Unlike standard home insurance that primarily focuses on individual units, strata insurance provides coverage for common areas and shared elements within a strata-titled property. These shared spaces often include hallways, lobbies, elevators, swimming pools, gyms, and other communal facilities.

What does strata insurance cover - automatic inclusions

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.

  • Your liability to others

    Your liability to others
If someone is injured (or their property is damaged) while they’re at your property, they could potentially sue the owners’ corporation (also called body corporate, strata corporation, corporation and strata company - depending on the state or territory). This is where public liability insurance comes in – to cover legal bills and any expenses or costs that the owners’ corporation (also called body corporate, strata corporation, corporation and strata company - depending on the state or territory) may be required to pay due to negligence.

Start building your cover now

The choice is yours

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?  

Well… these optional inclusions are a good start.

  • Voluntary workers' cover

    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.

  • Fidelity guarantee

    Optional in all states except SA, fidelity guarantee covers your owners’ corporation for financial losses that come about due to fraud or theft. 

  • Office bearers' legal liability

    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.

  • Machinery breakdown

    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. 

  • Catastrophe cover

    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.

  • Government audit costs and legal expenses

    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

  • Lot owners' fixtures and improvements

    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.

Start building your cover now

Why choose Flex Insurance?

icon flexibility
Flexibility - design your own policy

Market leading flexible strata insurance with the ability to customise your policy to suit your strata building.

icon simple and affordable.
Simple and Affordable

Flex cuts through the confusing insurance jargon with easy to understand strata policies helping you choose the right cover for you.

icon claims
24/7 Claims

24/7 claims service and support with emergency assistance to get you back on your feet as soon as possible.

icon years of innovation
Over 40 Years of innovation

Brought to you by Australia’s first and leading strata specialist CHU Underwriting Agencies.

Important documents

Name Link
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.
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.
PDF Quote Form 
Download and complete a pdf quote form

Start building your cover now

Who needs Flex strata insurance?

Self-Managed Schemes

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

Strata managers

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.

Insurance brokers

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. 

Get a quote

1 Flex Insurance will not receive a referrer fee for this.

Strata information by state

  • Strata insurance QLD

    Strata insurance QLD

    In Queensland, most body corporates fall under the Body Corporate and Community Management Act 1997 and one of five regulation modules: Standard, Accommodation, Commercial, Small, or Specified Two-Lot. Find out more about what is covered by Flex Strata Insurance in Queensland here.

  • Strata insurance NSW

    Strata insurance NSW

    In New South Wales, most strata properties fall under the remit of either the Strata Schemes Management Act 2015 (NSW) or other legislation. Discover which inclusions are provided by Flex Insurance for our NSW strata community managers here.

  • Strata insurance VIC

    Strata insurance VIC

    In Victoria, the Owners Corporation - as mandated by the Owners Corporations Act of 2006 - is obligated to undertake various responsibilities, including the management, administration, repair, and maintenance of the common property. Take a look at how Flex Insurance covers what is legally required for Victorian Owners Corporations here.

  • Strata insurance SA

    Strata insurance SA

    In South Australia, most strata properties are governed by the Strata Titles Act 1988 (SA), whereby a strata title is created by the division of land into separate units (at least two) plus common property.  Check out what is covered by Flex Insurance in South Australia here.

  • Strata insurance WA

    Strata insurance WA

    In Western Australia, the Strata Title Act (WA) encompasses the subdivision of land through strata title schemes, the establishment of strata titles, and the governance of strata titles schemes in Western Australia. Learn more about how Flex Insurance protects Western Australian strata properties though our strata insurance here.

Frequently asked questions

  • What is strata insurance?

    What is strata insurance?

    Strata insurance provides protection for structures with communal areas, such as apartments and townhouses, safeguarding against insured events like break-ins and severe weather conditions. Typically distributed among members of the owners corporation , this insurance policy can also extend coverage to shared contents such as laundry and gym equipment. Tailored coverage ensures comprehensive protection for the shared assets and spaces within the strata community. Read more about What is Strata Insurance here.

  • Is strata insurance compulsory?

    Is strata insurance compulsory?

    In every Australian state and territory, residential strata insurance is a legal requirement for residential strata properties. At a 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.

  • What is not covered by strata insurance?

    What is not covered by strata insurance?

    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.