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Residential Strata Insurance Explained
Strata Insurance, also known as Body Corporate Insurance in some regions, is a specialized type of insurance designed for multi-unit buildings, such as apartment complexes, townhouses, and condominiums. Strata Insurance provides coverage for the shared or common property and common areas within the building, protecting the interests of all individual unit owners and the collective body corporate or homeowners association.
Insurance Tip
When obtaining Strata Insurance, it is essential for the body corporate or homeowners association to carefully assess their specific insurance needs, review the coverage options, and comply with any legal requirements related to strata insurance in their region.
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