A strata landlord may still need Landlords Insurance even when the owners corporation or body corporate insures the building. The strata policy and the landlord’s policy protect different interests.

What does strata insurance usually cover? #

Strata insurance commonly covers the building and shared property, but responsibilities vary with the strata plan, applicable state or territory requirements and the policy wording.

Do not assume the strata policy covers every item inside the apartment or every risk faced by a landlord.

What might a strata landlord need to insure? #

Depending on the property and policy, Landlords Insurance may protect:

• Landlord-owned contents, appliances and window coverings.
• Internal fixtures or improvements not insured by the strata policy.
• Loss of rent following insured damage.
• Certain tenant-related risks.
• Legal liability exposures.

The tenant’s own belongings generally require separate Contents Insurance arranged by the tenant.

What information should I provide? #

A copy of the current strata insurance schedule can help identify the building cover already in place. Also provide details of:

• Landlord-owned contents and improvements.
• The weekly rent and tenancy arrangement.
• Any recent renovations.
• Previous claims or damage.
• Periods when the property may be vacant.

How can I avoid gaps or overlap? #

Strata boundaries and insurance responsibilities are not identical for every property. Webber Insurance can review the available strata information and help identify the Landlords Insurance cover that may still be required. Cover remains subject to the insurer’s policy terms, limits and exclusions.