Specialist cover for Strata Body Corporate properties, utilising market leading policies, has been a Thomas Brokers specialty for decades.
Thomas Brokers currently insure Adelaide Strata and Community Titled properties with specialised policies from CHU Underwriting Agencies and Strata Community Insurance Agencies.
These specialist Underwriting Agencies have leading policies with the best benefits for your Strata needs.....Thomas Brokers have been utilising these policies for decades and is very familiar with the benefits they can bring for your security.
Ask us to step you through the policies and benefits and help you chose the best Strata Insurance solution for your properties.
Standard cover is provided under Strata Body Corporate policies for:
- Buildings (See option below if Flood cover is required)
- Public Liability
- Voluntary Workers
- Government Audit & Legal Expenses
Optional cover is available on most policies for
- Office Bearers Liability
- Machinery Breakdown including Fusion
- Lot Owner’s Fixtures and Fittings
- Floating Floors
- Common Property
- Loss of Market Value
- Workers Compensation
Properties are required to be insured at their full replacement sum insured value. Public Liability minimum $10m is also a legal requirement hence it is mandatory cover.
Options for various other sections as shown above enable us to provide the perfect cover you need to protect the Strata Corporation property.
LANDLORD INSURANCE for STRATA
- PUBLIC LIABILITY & CONTENTS -
You may not be fully covered!
What is CHU Landlords Insurance and do I need it?
CHU Landlords insurance is insurance cover for strata property owners who are renting out a unit/apartment to tenants. It is important as it provides cover for accidental loss or damage to contents in your unit from events such as fire, flood or storms. It covers items such as carpets, light fixtures, built-in wardrobes and kitchen cupboards as well as loss of rent if the unit is unfit to be occupied. Additionally, it covers you and your investment property for malicious damage to contents/buildings caused by tenants and/or their guests. It also covers you if your tenant fails to pay rent.
Do I need Landlords Insurance when my building has Strata Insurance?
Yes, Residential Strata Insurance only provides general insurance cover for the building, common/shared property and common/shared contents. The cover provided by the Strata Building policy ends when you cross the threshold of your individual property. Landlords Insurance protects you for tenant related loss/damage inside your property. The diagram shows what would be covered by the Strata Building Policy and your Landlords Policy.
Most landlords will need both forms of cover
Following a heavy rain storm, incoming water damages your lounge room ceiling, walls and carpet and television estimated at $2,000 in damage. As the Landlords insurer CHU will cover replacement or repair of your water damaged carpet and television. If the Body Corporate/ Owners Corporation for your building also submits a valid claim on a CHU Residential Strata Insurance Plan for the same Insured Event, we will waive your $500 contents excess on your claim and pay your $2,000 claim.