Protect shared property with residential and commercial strata insurance
Strata title properties are common in Australia and mean that there is individual ownership of some parts of the property and shared ownership of others, such as the driveways, gardens and pool. With shared areas being commonplace these days, strata managers must ensure that there is appropriate insurance cover in place to protect the property.
GSK Insurance Brokers understand the complexities that come of strata titles and the need for insurance cover which is both affordable for residents and provides adequate cover. We’ll work closely with the strata or property manager to find an insurance solution which works for your property.
What do you need to know?
At GSK Insurance Brokers, we understand how important it is for your investment to be protected and we develop tailored residential and commercial strata insurance solutions to ensure that you’re protected financially in the event of the unexpected. We take the time to analyse your situation and identify your areas of risk for the best possible cover. Our senior insurance brokers are there to support you every step of the way, from the initial stages of taking out your policy to liaising directly with the insurer at claim time.
Who should consider it?
If you live in a strata titled property, you must have strata insurance in place – residential strata insurance is compulsory in Australia and each state and territory will have different regulations which must be adhered to. Strata insurance protects against the financial implications of events such as accidental damage, fire, storms, water damage and injury which may occur on shared property. Remember that even if you have strata insurance, this won’t cover the individual property that you own and you’ll require additional home and contents cover. Speak to your GSK broker if you need to learn more about the level of cover you require for your strata.
What can it cover?
Strata insurance is designed to cover common or shared property which is specified on the title of the property. This could include balconies, gardens, paved areas, walls, ceilings and floors, depending on the type of property. Some of the forms of cover which can be included in residential and commercial strata insurance with GSK include:
- Property Insurance
- Equipment Breakdown
- Public Liability
- Workers Compensation
What isn’t covered?
The exclusions that will apply to your residential and commercial strata insurance package will depend on your specific policy and it’s important that you understand the cover limitations. For more information, speak to your GSK broker.
GSK Insurance Brokers are one of Australia’s leading brokers with a selection of personal and business insurance solutions. We take the time to assess your risks and ensure that you have the right level of cover for ongoing peace of mind. For consistent service that you can rely on, speak to one of our brokers.
To find out more about residential and commercial strata insurance, contact GSK Insurance Brokers today.