Strata insurance Western Australia

Essentials cover

Under WA law – the Strata Titles Act 1985 (WA) and other legislation – body corporates and councils of owners are required to take out certain minimum cover. So Flex Residential Strata Insurance automatically includes insurance for:

• Your 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 body corporate may be found liable due to negligence and be ordered to pay compensation. This is covered by your policy’s automatic public liability insurance.

Optional extras

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.
• Workers compensation cover – covers loss of income and medical expenses if an employee of your body corporate is injured at work (available as an optional extra in ACT, TAS and WA only).
• Fidelity guarantee – in case your body corporate falls victim to theft or fraud by a member of your strata committee, and suffers financial loss.
• Office bearer’s legal liability – helps take care of the cost of legal fees if someone makes a claim against your strata committee members, and they are ordered to pay compensation.
• Machinery breakdown cover – really handy if your property has lifts, water pumps, common area climate control, shared laundry facilities or other motors that can break down and cost a lot to repair.
• Catastrophe cover – this often over-looked option kicks in when a widespread declared catastrophe such as a cyclone or bushfire occurs, and your property faces higher repair costs due to the increased demand for builders and tradespeople.
• Government audit costs and legal expenses cover – 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 – makes up for the shortfall between the estimated replacement cost of your property and its true replacement cost when any improvements or renovations are factored-in for which the Body Corporate was unaware.

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