Strata Insurance

Premiums vary widely depending on building value, location, construction type and claims history. A small townhouse complex of 6 to 10 lots might pay $3,000 to $8,000 per year, while a mid-rise apartment block of 50 lots could pay $25,000 to $80,000. High-rise buildings and schemes in cyclone-prone regions pay significantly more. Shielded can provide a tailored quote based on your scheme's details.

Strata insurance covers the building structure and common property on behalf of the owners corporation. Landlord insurance is a separate policy taken out by an individual lot owner to cover their rental income, tenant damage, contents within their lot and personal liability as a landlord. Both policies are needed if you own an investment property within a strata scheme.

Yes, most strata policies cover sudden and accidental water damage from burst pipes, leaking appliances and overflowing fixtures. However, damage resulting from gradual deterioration, lack of maintenance or known pre-existing leaks is typically excluded. Regular plumbing maintenance helps prevent both claims and premium increases.

Office bearers liability protects strata committee members and the strata manager against personal liability for allegations of mismanagement, negligent decisions or breach of duty. It is strongly recommended for every scheme and is included in most strata insurance packages. Without it, committee members could face personal legal costs if a dispute escalates.

Industry best practice is to obtain a full replacement cost valuation every three to five years, with annual indexation applied between valuations. Given recent construction cost increases, schemes that have not been revalued in the last three years are likely underinsured. Your Shielded broker can recommend accredited valuers in your area.

Yes. Strategies include maintaining a clean claims history, increasing the excess on lower-value claim types like water damage, investing in building maintenance and upgrades, installing security and fire detection systems, and having your broker market the policy to multiple insurers each renewal. Shielded compares options across CGU, QBE, Zurich, Vero, Hollard, Allianz and AIG to find the most competitive premium.

Coverage for buildings with combustible cladding has become increasingly restricted. Some insurers will provide cover with specific exclusions or higher excesses related to cladding fires, while others may decline to quote altogether. If your building has been identified in a cladding audit, discuss your options with Shielded early in the renewal process so we can identify insurers willing to provide cover.

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.