Strata and Community Title schemes are set up for the individual ownership of units and apartments and then the assets must then be insured under a Strata or Body Corporate Insurance Policy. These policies cover the building, common areas and common contents that are the responsibility of the Body Corporate or Strata Management group.
Owners of strata units typically share the costs of strata insurance as part of their strata fees and liabilities. Strata insurance is mandatory and must also provide public liability covering people that may be injured on common property. Axiom Insurance provides specialist knowledge of State and Territory legislative requirements for insuring strata properties and understand that every property has different insurance requirements.
Axiom Insurance uses a Comprehensive list of Australia’s leading professional indemnity underwriters as well as accessing a tailored package via Lloyds of London. You’ll be protected against: