Residential Strata Insurance is for owners of residential buildings that are under a strata, group, body corporate or community title arrangement. It covers you for legal liability if someone injures themselves on your premises, and can give you the option to cover accidental damage to the building and common contents.
What is insured as 'your building'?
- Fixed external awnings and blinds
- Elevators, escalators, travelators and inclinators
- Fixed fire prevention and security equipment (eg. fire hoses, fire extinguishers, security cameras)
- Ducted air-conditioning
- Alarms and intercoms
- Service pipes and cables
- Swimming pools and spas in a permanent site and their accessories
- Fixed barbecues, fixed clothes lines, fixed aerials, fixed satellite dishes and fixed masts
- Garden borders, driveways, paths and paving walls, fences and gates
- Tennis courts
- Boat jetties, boat pontoons and marinas
- Electrical and gas appliances only if these appliances are permanently connected or plumbed to the electricity or gas supply
- Dishwashers you own that are housed in a purpose-built cupboard or bench
- The wall and floor coverings (except when they are inside a unit and the strata laws in your state or territory say they are not part of your Building for body corporate insurance purposes)
- Paint, tiles, wallpaper and permanent wall, floor and ceiling coverings, fixed floor coverings including lino, whether glued down or not
- Timber floor coverings that were fitted when the building was originally built, whether secured to the floor or not.
Not insured as your building
- Fixtures that can be removed by the lessee or tenant at the end of a tenancy without causing damage to the unit.
- Mobile or fixed air conditioning units servicing a particular unit.
- A new building being built.
- Carpets (fixed or unfixed) or floor rugs in units.
- Inflatable or above-ground swimming pools or portable spas, on a temporary site or their accessories.
- Any of your common contents.
- Paint, wallpaper and temporary wall, floor and ceiling coverings inside any unit, if the strata laws applicable in your state or territory say that they are not part of your building for body corporate insurance purposes.
- Any part of your building used or occupied as a hotel, or motel as a boarding house or guest house for any business activity unless we agreed to this business activity or this business activity is only:
The residential tenancy of your building
Parking a trade person's vehicle at the insured address or
Using no more than 1 unit
Insured as your 'common contents'
- Temporary wall, floor and ceiling coverings
- Internal window coverings
- Portable domestic appliances (eg clothes dryer).
- Tools and cleaning equipment.
- Gardening equipment (including ride-on mowers).
- Office equipment, electronic equipment and telephones you use in your administration office Examples include:
'Your' common contents means your unfixed property and carpets at the insured address that are contained within the common areas of the strata, group, body corporate or community titled residential Building or Buildings.
Computers, including laptops, electronic diaries, palm or pocket PCs, printers and scanners (but not software, games or stored media information).
Filing cabinets, fax machines and photocopiers phones
Chairs, tables, desks and other office furniture
Not Insured as 'common contents'
- Cash, credit cards, debit cards, smart cards, phone cards and any document able to be cashed or banked
- Jewellery, gold or silver items, or items plated with silver or gold
- Any fixture or item owned by a unit owner or tenant which they would remove if they sold or vacated their unit
- Any item covered as your building
- Pets, domestic animals and livestock
- Stock in trade
- Unfixed building materials and uninstalled fixtures
- Floating floors fitted by the unit owner
- Carpets or other contents owned by a tenant or unit owner
- These vehicles or craft or any of their accessories or spare parts:
Motor vehicles or trailers, motorcycles
Mini-motorcycles, motorised scooters or motorised bicycles
Caravans, mobile homes or any of their contents
Watercraft or their outboard motors or aircraft
Tractors, back hoes, bob-cats, earth dozers or front-end loaders or their accessories or spare parts
- Emergency repairs.
- Exploration costs to find the source of leaks from pipes and water containers
- Motor burnout
- Embezzlement of funds
- Removal of debris and extra rebuilding costs
- Temporary accommodation
- Loss of unit owner's rent
- Lawns, garden areas, trees, shrubs and plants
- Replacement of locks (up to $1,000)
- Voluntary workers cover for strata, group, body corporate or community titled buildings
- Legal liability cover when your customer insures their Building under their policy
- Automatic adjustments to the sum insured