Why would I need a Strata policy and not a Home or Landlord policy?
You would need a Strata policy if you own a home that shares common property, like buildings or outdoor areas, and where legislation states a Body Corporate or Strata Title must be formed.
In some states, there is no requirement for a Body Corporate or Strata to be formed when you own a home that’s part of a complex, like an apartment building, or, if you are the sole owner of a small block of units under a Freehold or Torrens Title. In these cases, we are able to insure under a Home or Landlord policy.
For more details, please refer to the PDS.