At Elite Bodycorp, we strive to offer our clients a selection of Australia's most competitive yet reputable insurers to choose from when faced with arranging Commercial and Residential Strata Insurance.
What is Strata Insurance?
Strata insurance is insurance that the owners corporation, also known as the body corporate is obliged to take out to cover the building, common property and common area contents of a strata scheme. Insurance is available for both residential strata and commercial strata properties.
What does Strata Insurance cover?
Strata insurance typically covers common area contents, the building and shared property in the event of loss or damage. Generally, events like theft of common area contents, repairs to damaged property managed by the owner's corporation and the cost of recovery if disaster strikes are also included in strata insurance. It is also compulsory for strata insurance in all parts of Australia to provide liability cover in the event that people are injured on common property.
What is our Role?
We act on behalf of the Owners Corporation members to liaise with Insurance brokers and the Insurers to undertake the following:
- Arrange for competitive insurance quotations, as required by the client
- Lodge insurance claims for insurable events (refer to PDS)
- Processing of the insurance renewal
- Obtain a comprehensive insurance valuation every 3-5 years
- Arrange for make safe repairs through our panel of reputable contractors to reduce further damages