What is Strata Insurance?
When you own a home that shares common property, you’ll want both your property and the shared property to be covered — and your Home Insurance might not tick all the boxes. That’s why Strata Insurance covers residential buildings within a complex and common areas such as garages, sealed driveways, and swimming pools.
You can also add cover for common contents, such as lawnmowers and washing machines.
Do I need Strata Insurance?
Strata Insurance is a legal requirement and normally the responsibility of the strata title owners, with the cost split between the individual unit owners. If you live in one of the following, chances are you need Strata Insurance.
Loss or damage from incidents such as floods*, storms, fires and theft#
Amount nominated by you
Up to $20 million
Up to 10% of the building sum insured and for no longer than 52 weeks
Up to 10% of the building sum insured
Up to $1 million
Amount nominated by you
Why choose Suncorp Insurance?
We offer a lifetime repair guarantee
Rest assured, when we repair or rebuild the building, we guarantee the quality of workmanship of the work for the lifetime of the building that we authorise, arrange and pay the builder directly for.
You can save by paying annually
Save on your premium by choosing to pay annually
24/7 claims service
Making a claim is easy with our 24/7 phone and online claims service
Frequently asked questions
How do I pay my Strata Insurance?
We’ll tell you the amount and payment due date on your certificate of insurance. The details of your payment and its due date will also be listed on your insurance account. This can be paid annually, or, if we agree, by monthly instalments. Paying monthly costs more than if you pay in one annual sum.
How do I make a claim on my Strata Insurance?
You can report your claim to us by contacting us on 13 25 24, 24 hours a day. In the event of damage or loss to your building, first make sure everyone is safe and call 000 in an emergency. For malicious damage or theft, create a detailed list of all damaged or stolen items and immediately report it to the police.
If there’s no strata or body corporate in place for my apartment building, can I still get Strata Insurance?
Yes, you can still get a Strata policy with Suncorp Insurance for the entire building. However, we only offer Strata cover on the entire building, not individual dwellings or units. For more information on what Suncorp Strata Insurance covers, please check the PDS.
Can I cancel my strata insurance?
Yes, you can cancel your policy at any time and you’ll be refunded the unexpired portions of your policy (less any non-refundable government charges). Refunds will not be given if the refund is less than $5 (GST inclusive).
For more information, please refer to the PDS.
What are common contents?
Common contents are unfixed property at the insured address that are contained within the common areas of your building. They include:
- Unfixed wall, floor and ceiling coverings;
- Tools and cleaning equipment; and Office equipment, electronic equipment and
- telephones used in your administration office.
Take a look at the PDS to learn more about what is and is not covered by Strata Insurance.
Can I take out a policy for common contents only?
No, you must insure your building first before you can insure common contents. Suncorp Strata Insurance is for owners of homes that share common spaces and grounds, such as gardens, swimming pools and driveways.
Why would I need a Strata policy and not a Home or Landlord policy?
You’d 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’s 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’re able to insure under a Home or Landlord policy.
Each of Suncorp's insurance products utilise a five-stage product lifecycle (Design, Delivery, Review, Enhance/Modify and Decommission). This approach allows us to put you, the customer, at the centre of our product development and distribution.
*Actions or movements of the sea and storm surge are not covered (unless the storm surge damage occurs at the same time as damage caused by storm). We don't cover retaining walls or flood damage to mooring poles, jetties, pontoons, other exclusions apply.
#We do not insure you for bushfire, storm, storm surge, flood or tsunami in the first 72 hours of your policy. Very limited exceptions apply. Read the PDS for more details.
Flood means the covering of normally dry land by water that has escaped or been released from the normal confines of things like a lake, river, reservoir, canal or other natural watercourse.
Actions or movements of the sea or storm surge are not covered. Some things we don't cover are damage to retaining walls, jetties, pontoons and garden borders.
Storm means a storm, cyclone or severe atmospheric disturbance. It can be accompanied by strong winds, rain, lightning, hail, snow, or dust.
It includes loss or damage caused by a landslide or subsidence within 72 hours of, and directly because of, a storm and not because of erosion, structural fault or design fault.
Riot and civil commotion
An example of a riot, civil commotion or public disturbance event would be damage caused by a violent crowd moving down your street.
It doesn't cover loss or damage caused by someone who had consent to enter the insured address and doesn't cover loss or damage if anyone living at the insured address participated in the disturbance.
Lightning, including power surges caused by lightning, will be covered providing a qualified repairer gives written confirmation to show lightning as the cause of loss or damage and the Australian Government Bureau of Meteorology has a record of lightning in the area.
Loss or damage caused by fire (includes bushfire) and heat, ash, soot and smoke that is a direct result of a fire within 100 metres of the insured address.
It doesn’t include arcing, scorching or cigarette burns unless a fire spreads from the initial burn spot.
Pollution or vapour damage by a home heater or cooking appliance is covered if a fire spreads from the initial source.
If there is a bushfire in your area, we also cover the cost of replacing water in any tank, container, pool, spa and any other storage vessel, even if there is no physical damage to your property. The most we will pay is $1,000.
Theft and burglary
Theft or burglary occurs when someone enters the insured address without your consent and steals or intends to steal items.
We don't cover loss or damage caused by thieves or burglars entering the insured address from common property without signs of forced entry, or loss or damage caused by anyone living at the address.
We cover loss or damage caused by an explosion but we don't cover the cost of repairing or replacing the container or tank that exploded.
Earthquake and tsunami
We cover damage that occurs within the first 72 hours following an earthquake or tsunami.
This includes cover for damage caused by a landslide or subsidence within 72 hours of, and directly because of, an earthquake or tsunami. It doesn't cover damage caused by erosion over time or a structural or design fault.
Malicious acts or vandalism includes things like vandals damaging your letterbox or painting graffiti on your home.
It doesn't include damage caused by someone who lives or is staying at the insured address or who entered the insured address with your consent.
Damage by animal
This covers loss or damage caused by an animal that becomes accidentally trapped inside your home.
We don't cover damage caused by any animal you own or are responsible for, or has been allowed onto the insured address, or damage caused by insects, vermin or rodents (unless the damage they caused is covered under fire or escape of liquid).
Impact covers damage caused by impact from things like a falling tree, power poles, tv antennas, aircrafts, motor vehicles and even space debris.
It doesn't include damage caused by trees being lopped, felled or transplanted by you or for you.
Escape of liquid
This covers damage caused by liquid leaking, overflowing or bursting from things like your fridge, washing machine, bath (but not shower), toilet, fixed pipes (except agricultural pipes), swimming pool, water main, fixed cooling system or an aquarium.
We do not cover the cost of fixing the leak itself, wear, tear and gradual deterioration or loss or damage as a result of a gradual process of liquid leaking, splashing, dripping or overflowing. See the PDS for more details on what we don't cover.
1 Year free Safety Net Protection
Quote and purchase online from 30th Sept 2022 – 12th Jan 2023. Not available with any other offers. Free for first period of insurance. T&C's apply