Strata insurance Western Australia

Flex strata insurance WA

Strata insurance in WA is designed to cover the collective needs of properties under strata titles, as governed by the Strata Titles Act 1985 (WA) and other legislation. Body corporates and councils of owners in WA are required to take out certain minimum cover to provide the necessary protection against common property damage, public liability, and other statutory coverages required by strata by-law in WA.

At Flex Insurance, we recognise the intricacies involved in securing adequate coverage that complies with WA’s specific regulations. Our flexible insurance policies ensure that all aspects of your strata property are protected, from the physical structure of the building, common areas, natural disasters, fire- and water damage to legal liabilities. We deliver expertly guided insurance solutions for residential strata to safeguard your investment and ensure peace of mind for every owner and resident.

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Essentials cover For Your Strata Title Insurance in WA

To comply with the WA laws Flex Insurance provides flexible Residential Strata Insurance for body corporates and committees of owners. We automatically include cover for:

• Your residential property – which includes the cost of damage and repairs to the buildings and common areas on your property, as well as floor, ceiling and balcony structures, external walls, entry areas, staircases and fire escapes, and the building’s plumbing and wiring.
• Your liability to others – when someone is injured on common areas or something they own is damaged while at your property, your committee of owners may be found liable due to negligence and be ordered to pay compensation. This is covered by your policy’s automatic public liability insurance.

Choose Extras For Your Policy

Once you’ve covered the essentials, your committee can choose which optional add-ons it wants to include, such as:

• Voluntary workers' cover – for anyone who is working voluntarily for your body corporate and suffers an injury.
• Fidelity guarantee – covers your owners corporation for any loss due to theft, dishonesty or fraudulent misappropriation of Your Funds 
• Office bearer’s legal liability – can help cover the cost of legal fees if there is a claim against your strata committee members, and any damages or costs you’re ordered by a Court to pay.
• Machinery breakdown cover –comes in very useful if you have lifts, water pumps, shared washing machines or common air conditioners. They can easily breakdown and cost to repair can be substantial.
• Catastrophe cover – when widespread declared disaster strikes – like bushfire, earthquake or cyclone – the costs of repairs sky-rockets because of demand for tradespeople or materials. This cover allows for those increased expenses.
• Government audit costs and legal expenses cover – provides cover in the event of a government audit, protection if the council of owners needs to appeal an unreasonable Order imposed by a statutory body and provides cover for legal defence costs.
• Lot owners’ fixtures and improvements – often overlooked, but improvements and renovations to a unit which an Owners Corporation is unaware of can increase the actual cost of building repairs well above the declared value of the building. This option covers that shortfall in event the building value is exhausted.

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Who benefits from having residential strata insurance in WA?

Self-Managed Schemes

Flex Insurance reduces the complexities and costs associated with managing strata insurance across a variety of properties in WA, regardless of their size or age. Our policies are designed to adapt to meet the specific needs of your scheme. Whether you need guidance managing your property or expert advice on insurance matters, we're here to ensure you're connected with the best resources.

Strata Managers

Strata managers will find that our services not only offer significant savings but also do not compromise on delivering peace of mind. We pride ourselves on providing professional service, sound advice, and flexible policy options that guarantee exceptional value for your clients.

Insurance Brokers

For insurance brokers, whether strata insurance is a core part of your business or a supplementary service, Flex Insurance supports you in providing stellar service to your clients. We focus on delivering custom-tailored, cost-effective, and reliable insurance solutions that cater specifically to the needs of those in Western Australia.

Important documents

Flexible Residential Strata Plan Insurance:

For policies commencing from 1 September 2024 and with a total sum insured $25 million and below.

Residential Strata Plan Insurance: 

For policies commencing between 1 October 2023 – 31 August 2024. And for policies commencing from 1 September 2024 with a total sum insured above $25 million

Reference: Landgate WA – Guide to strata titles