Body Corporate Insurance

Premiums vary enormously depending on building size, location, age and claims history. A small residential block of 6 to 10 units in a low-risk area might pay $3,000 to $8,000 per year, while a large complex in a cyclone zone can exceed $100,000 annually. Shielded compares quotes across multiple insurers to find the most competitive option for your scheme.

Body corporate insurance covers the building structure, common property and shared liability. Lot owner insurance covers the contents within your individual lot, any improvements you have made above the original specification, and your personal liability as an occupier. Both are needed for complete protection.

Office bearers liability protects committee members and the body corporate manager against claims of negligence, breach of duty or mismanagement. Given that committee members are volunteers with real legal obligations, this cover is considered essential. Most body corporate policies include it as a standard section.

An independent insurance valuation should be obtained at least every three years, though annual indexation should be applied between formal valuations. Construction costs have risen significantly in recent years, and schemes relying on outdated valuations risk severe underinsurance that could leave lot owners collectively liable for a funding shortfall after a major claim.

Yes, sudden and accidental water damage from burst pipes, leaking hot water systems and overflowing fixtures is typically covered. However, damage resulting from gradual deterioration, lack of maintenance or known pre-existing defects is excluded. Insurers are increasingly scrutinising water damage claims, so proactive plumbing maintenance is important.

Yes. The public liability section of a body corporate policy covers legal liability for injury to third parties in common areas such as foyers, car parks, pools and walkways. Most policies provide $10M to $20M of cover. The body corporate has a duty of care to maintain common areas in a safe condition.

Yes. Shielded has access to a broad insurer panel including CGU, QBE, Zurich, Vero, Hollard, Allianz and AIG, as well as specialist strata underwriting agencies. We regularly place cover for schemes with challenging risk profiles, including buildings with combustible cladding, poor claims history or high-risk locations.

Commercial property insurance covers a wide range of property types including office buildings, retail shops, warehouses, factories, shopping centres, hotels, motels, restaurants, cafes, medical centres, child care centres, gyms, salons, laundromats, churches, petrol stations, mixed-use developments and more. Whether you own a single tenancy or a multi-storey complex, we tailor cover to match your property.

Premiums vary based on building value, location, construction type, tenant occupation and risk profile. A small retail shop may cost $1,500 to $4,000 per year, a standard office building $3,000 to $10,000, and a large warehouse or industrial property $5,000 to $25,000+. High-risk tenancies (restaurants, manufacturing) attract higher premiums. Request a free quote through Shielded for an accurate indication.

Commercial building insurance covers the physical structure including walls, roof, floors, fixed fixtures, common areas, car parks, fencing and services (electrical, plumbing, HVAC) against fire, storm, flood, impact damage, malicious damage, theft and accidental damage. It typically also covers demolition and removal costs, professional fees (architects, engineers) and compliance with current building codes when rebuilding.

If you own a commercial building and lease it to tenants, you need commercial landlord insurance. This covers the building structure, landlord's contents (common area furnishings, HVAC systems), public liability for common areas, loss of rental income if the building is uninhabitable after an insured event, and plate glass. Your tenants are responsible for insuring their own contents, stock and fit-out.

Loss of rental income (also called business interruption for landlords) provides replacement income if your commercial property becomes uninhabitable after an insured event such as fire, storm or flood. It covers the rental income you would have received during the repair or rebuild period, typically for up to 12 or 24 months. This is essential for property investors who rely on rental returns.

Plate glass cover is usually an optional add-on, not included in the base building policy. It covers the cost of replacing glass shop fronts, windows, doors, display cases and signage glass that is accidentally broken or vandalised. For retail properties with large glass frontages, this is an important cover to include.

Generally, the landlord insures the building structure, common areas and landlord's fixtures. Tenants are responsible for insuring their own contents, stock, fit-out, trade fixtures and their own public liability. Most commercial leases clearly define these responsibilities. As a landlord, ensure your lease requires tenants to hold adequate insurance and provide certificates of currency.

Contact us at Shielded Insurance on 1800 97 98 99 or reach out to your insurer directly. We recommend notifying us as soon as possible after damage occurs, documenting everything with photos, securing the premises to prevent further damage, and keeping records of all emergency repair costs.

We compare quotes from leading Australian commercial property insurers including CGU, QBE, Zurich, Vero, Hollard, Allianz, AIG and others. The best insurer depends on your property type, construction, tenant occupation and risk profile. As brokers, we do the comparison work to find competitive and suitable cover for your property.

Review your policy annually at renewal, or whenever there are significant changes such as new tenants, renovations, extensions, changes in building use, or updated valuations. Building replacement costs increase over time - if your sum insured does not keep pace with construction cost inflation, you risk being underinsured at claim time. We recommend a professional building valuation every 3 to 5 years.