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Strata Insurance

Insurance for residential buildings, governed by body corporates or owners corporations, that share common property

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.





Insured Incidents

  • Flood
  • Fire (including bushfires)
  • Malicious acts of vandalism
  • Impact
  • Storm
  • Theft and burglary
  • Damage by an animal
  • Riot, civil commotion or public disturbance
  • Explosion
  • Escape of liquid
  • Lightning
  • Earthquake and tsunami

In the first 72 hours of your policy, we do not insure you for bushfire, storm, flood or tsunami. Very limited exceptions apply. Read the PDS for more details.

What does Strata Insurance cover?

Cover Type


Amount nominated by you

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

Up to $10,000 of net costs

Amount nominated by you

Product Disclosure Statement

This is just a summary, for full details of what is and isn't covered please refer to the Strata Insurance Product Disclosure Statement (PDS)

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

This content applies to policies with a start or renewal date on or after 25 March 2021.

*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.

Exclusions and limits apply. Read the Product Disclosure Statement before buying this insurance. The Target Market Determination is also available.

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