Flex Insurance

Flex strata insurance

Strata insurance is a specialised form of insurance designed for properties that are divided into multiple units, such as apartments complexes, townhouses, or even villas. Unlike standard home insurance that primarily focuses on individual units, strata insurance provides coverage for common areas and shared elements within a strata-titled property. These shared spaces often include hallways, driveways, lobbies, elevators, swimming pools, gyms, and other communal facilities.

What does strata insurance cover - automatic inclusions

Every insurance policy needs to start somewhere, and we start with the cover that your state’s laws may require and build from there. All our policies include the basics; insurance for the property and public liability.

Automatic inclusions (required by law):

• Your property
  All standard strata insurance policies begin with your property. This cover insures you for the cost of any damage or repairs to your buildings and common areas, including wiring and plumbing, flooring and strata-owned fixtures that are part of the general fabric of the building.

• Your liability to others
  
  Your liability to others
If someone is injured (or their property is damaged) while they’re at your property, they could potentially sue the owners’ corporation (also called body corporate, strata corporation, corporation and strata company - depending on the state or territory). This is where public liability insurance comes in – to cover legal bills and any expenses or costs that the owners’ corporation (also called body corporate, strata corporation, corporation and strata company - depending on the state or territory) may be required to pay due to negligence.

• At last, strata insurance that lets you include only those things you need. At Flex Insurance we don’t believe that one-size-fits all, so we let you tailor your cover by adding in options.

• It’s simple, straightforward and saves you money.