How to Manage Burst Pipes

Be Prepared: How to Manage Burst Pipes Water Damage: The No. 1 cause of strata claims. At Strata Community Insurance, just under 70% of claims raised relate to water damage. Burst pipe claims are becoming more severe and expensive, often causing damage to furniture, appliances, floors, walls and ceilings. Added to this is the inconvenience … Read more

Indexation Explained

Your obligations to insure for full reinstatement and replacement value of your strata building Body Corporate (BC’s) are required to insure for full reinstatement and replacement value. Unless a BC has an up-to-date valuation, extra care must be taken to ensure that any movement in building material and labour costs is taken into account throughout … Read more

Handy tips to simplify strata claims!

Strata insurance offers peace-of-mind in the unfortunate event that an insured needs to make a claim. Of course, having the right cover in place is the first requirement. There is a general expectation that, when making a claim, the process will be fast, efficient and fair. However, it is not simply a matter of making … Read more

Explaining Building Maintenance & Defects to Owners

Owners become members of a Body Corporate, Owners Corporation, Strata Company, Community Association or other similar legal entity when they buy into a Strata or Community title scheme. Owners have a share in both the assets and liabilities of the entity and a legal responsibility for maintenance, repair and overall management of the common property. … Read more

Duty of Disclosure: Strata Insurance

What is the duty of disclosure? As an owner and a member of a body corporate you have a legal responsibility, under Section 21 of the Insurance Contracts Act 1984 (Cth) (the Act) to disclose all relevant information that could affect an insurer’s decision on the insurance cover they can offer. An insurance policy is … Read more

Window safety in strata

12.5cm maximum opening for peace of mind! Each year in Australia approximately 50 children (or almost one per week) fall from windows or balconies, often resulting in serious injury or even death.* The majority of these incidents occur in residential strata complexes. Children aged from one to five years are most at risk, as they … Read more

Guide to Risk Management of Cladding

Identifying, Reporting & Managing Cladding Risks Strata Community Insurance is committed to providing our customers with market-leading products and practical solutions that assist in managing the complex risks and exposures facing our industry. The following is a tool to support owners, strata managers and insurance brokers with the identification, reporting and risk management of buildings … Read more