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Strata title cover

Insurance for everything on your title

Buying a strata title property means that you also buy a share of the common property in your complex, and a share of the liabilities attached to it.

What is strata title insurance?

Strata title insurance is designed to cover the costs incurred when a strata building or its common property is damaged and needs to be repaired or replaced. Strata title insurance is part of compulsory strata insurance and it includes legal liability cover if someone is injured or their property is damaged while on the strata premises.

What is common property?

Yes Flex Insurance covers all of the areas defined as common on the title for the strata property.

Common property covers all the things that every resident can make use of such as: 

  • Lobbies and entrance halls 
  • Driveways and walkways
  • Car parking, garages, bike racks and carports 
  • Lifts
  • Rubbish chutes and bin rooms
  • Shared swimming pools, spas, saunas and wet areas
  • On-site gyms
  • Roof terraces and lounge decks
  • Cinema rooms, libraries and games rooms
  • Shared barbecue facilities
  • Concierge desks and mail rooms
  • Building manager’s office and storerooms
  • Common gardens and gazebos

Common property also includes the structure of the building itself, such as walls, steps and stairwells, windows, balconies, floor and ceiling structures, basements, even the plumbing and wiring in the walls.

Naturally, any of these can suffer damage – minor or catastrophic – and the cost of repairs can be enormous. That’s where Flex Insurance comes in. 

What are shared liabilities?

The other potential expense can come from paying out claims for personal injury or property damage that occurs on the common property of your apartment complex. Where there is a claim for damages due to negligence, owners of the strata are liable for those expenses through their body corporate.

And yes, Flex Insurance covers you for this as well.

Insuring a strata property in:

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