What is strata insurance?

It is mandatory for strata title properties to hold residential strata insurance across Australia.

While each state and territory has different legislative requirements, it’s designed to cover common areas as defined on the property’s title including common property such as lawns, driveways, lifts and pools from events such as theft, storm, water, fire and malicious or accidental damage.

Strata insurance must also provide liability cover in the event of personal injury in connection with the insured property.