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Residential strata insurance commonly referred to as body corporate insurance in some states general covers common property housed or owned under the strata title or body corporate entity.
Individual (Lot) owners of a strata title typically share the premium costs of strata insurance as part of their annual strata fees & outgoings. It is mandatory requirement for all body corporates in all states in Australia to hold a current and financial strata insurance policy.
Strata insurance generally covers common or shared property. This can include common areas, elevators (lifts), car parks, pools, windows, gardens, balconies, walls, floors & ceilings. The most common element of strata insurance is the provision of public liability cover which covers the body corporate in the event individuals are injured on common property.
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exclusions apply to any products referred to in our website. The information provided here is general advice only and has been prepared without taking into account your objectives, financial situation or needs. You should consider these, having regard to the appropriateness of this advice, and the relevant Product Disclosure Statement, available by calling us on 1300 178 628 before deciding to acquire, or to continue to hold, any products.