Strata insurance is unique – this does not mean it also has to  be complicated.

Having an insurance broker appointed can help the council of owners navigate their way through the insurance process and ensure that the best result from both a policy coverage and economic viewpoint is achieved.

It is important to remember that a broker is appointed to represent your best interests. We act as your advocate at all times and are appointed to work on your behalf, for you. The big advantage of this to a strata council is that your broker will have access to almost the entire insurance market, so by having the single point of contact with a broker you can outsource the time and energy of seeking insurance quotations via a far more effective means than attempting to manage the process internally. An additional benefit being you can call on the brokers experience and knowledge of insurance products and the variances of each policy between insurers to make sure what you have in place is suitable for your needs.

It is also worth noting that certain property managers who act as agents of a strata insurance company are licensed only to place cover with that particular insurer. They are not qualified nor licensed to provide specific advice on other insurance products available nor do they act in any way as a broker to ensure that you receive numerous insurance alternatives to consider.

The team at Challenge Insurance Services also provide specific services for strata companies in addition to insurance broking. Refer to our service partners page which contains contacts for property valuation, ( for insurance valuation and replacement calculation ) , sinking fund calculation providers, unit title valuation and tax valuation, fire maintenance, security maintenance and more.

Working with a broker gives you an experienced and professional advice service in the event of a claim. We assist and guide the Strata Company through the claim process to ensure repairs are conducted fairly and promptly to minimize disruption to owners and tenants.

For a professional assessment refer to our quote page and Challenge Insurance Services can provide numerous insurance alternatives available for your strata in 1 simple step.

Click here for a Strata Quote

For more information…

For further background information and to ensure you are fully informed of your insurance requirements as a strata titled property owner please see points of reference linked below.

Strata titles act 1985 doc (PDF) (division 4 is insurance, pages 124 to 135) – Click here →

Strata community Australia website – What is strata ?

- 1 minute video Click here →

-  guide to strata titles

Strataman website

- Insurance information Click here →

- Has numerous other sections relative to strata titled property (from a NSW viewpoint)

Landgate website

- Survey plan or Strata plan FAQ’s (noting insurance differences) Click here →

- Unit rating and tax valuation