Comprehensive cover for strata titled buildings (including common property) – like duplexes, townhouses and apartments – for incidents such as theft, burglary and extreme weather events.
Trusted by property investors
out of 5
Strata Insurance may be for you if you’re a property manager looking for cover for residential strata title properties including:
Duplexes/Terrace houses
A duplex is a residential building divided into two apartments with a shared roof and one shared wall.
Terrace houses are built as part of a continuous row of homes in similar style, often sharing walls on both sides. Some older terrace properties allow you to own the land, while others may be strata titled.
Cover for loss or damage to strata buildings under a residential strata title or scheme up to your sum insured if they’re damaged by an insured event. This includes common property areas such as sealed driveways, garages, decks, sheds and tennis courts.
Cover for loss or damage caused by thieves or burglars, including lot occupiers or their guests.
Cover for loss or damage caused by flood, storm, fire (including bushfire) and lightning.#
Up to $20 million legal liability cover can help you take care of legal and other costs if a visitor suffers injury, death or property damage at your home.
If the motor in one of your fixed appliances burns out or fuses and that motor is less than 7 years old, we'll help you take care of repair or replacement.
#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 Product Disclosure Statement (PDS) for more details. This information is a summary only. For more info on what is and isn’t covered, including limits, terms, conditions and exclusions, read the PDS.
We don’t cover your building if it’s used for short term rental, holiday rental or house sharing. This includes if a unit is available through Airbnb or Stayz.
We don’t offer cover for buildings with more than ten units or separate dwellings, or buildings with more than three storeys or levels.
We don’t cover loss or damage arising from or caused by chemicals, such as detergents and solvents, when you or someone authorised by you is using them for cleaning.
This information is a summary only. For more info on what is and isn’t covered, including limits, terms, conditions and exclusions, read the PDS.
For an additional premium, the policy can provide cover for common contents such as portable domestic appliances like washing machines and clothes dryers, domestic tools and gardening equipment and office equipment that doesn't belong to a lot owner or tenant, up to a chosen sum insured.
This information is a summary only. For more info on what is and isn’t covered, including limits, terms, conditions and exclusions, read the PDS.
Help safeguard your personal belongings at home, in storage and even in transit.
Cover for your rental property's furnishings, including carpets and blinds.
Making a claim is easy with our 24/7 phone and online claims service.
We guarantee the quality of the workmanship for all repairs we authorise.
A body corporate or owners corporation is a legal entity which is created when land is subdivided and registered under a community titles scheme. All of the owners in a community titles scheme are automatically members of the body corporate when they buy their lot.
The body corporate is also financially responsible (on behalf of all lot owners), for all the assets such as the building and the land, and all liabilities it may have.
Strata insurance policies are usually managed by either a strata manager, property manager, or a unit owner on behalf of the others, depending on the arrangement.
If your property is under strata title, it’s worth checking if your building is already insured.
AAMI Strata Insurance does not cover buildings and common contents used for short term rental, holiday rental or house sharing. This includes if a unit is available through Airbnb or Stayz.
AAMI Strata Insurance policies do not cover personal contents or any legal liability which arises from events caused by personal contents. For personal contents cover, you may want to consider AAMI Contents Only Insurance.
You don’t need separate home building insurance if your building is already covered by a strata insurance policy. AAMI Strata Insurance can also cover internal fixtures such as doors, gas appliances permanently plumbed to a gas supply and tiling. Read the PDS for more details..
We have also written an in-depth article that explains the difference between Building and Strata Insurance.
REAL AUSSIES
Duplexes/Terrace houses
A duplex is a residential building divided into two apartments with a shared roof and one shared wall.
Terrace houses are built as part of a continuous row of homes in similar style, often sharing walls on both sides. Some older terrace properties allow you to own the land, while others may be strata titled.
Townhouses/Villas
A townhouse or villa is a self-contained property – attached or freestanding – in a complex of three or more dwellings. Homeowners share ownership of the land and common areas with others in the complex.
Units/flats
A unit or flat is usually a stand-alone dwelling – but may share a common wall – and is not usually in multi-story complexes.
Apartments
An apartment is a self-contained unit that is part of a bigger building containing other similar apartments.
Manage Policy
