How is strata insurance different from homeowner's insurance?

World class insurance software. Powering profitable growth for insurance retailers and modern digital journeys for consumers, CDL Strata is the retail platform ... Who should consider it? Strata insurance is compulsory in every state – so if you're part of an owners' corporation in a townhouse, unit, flat, apartment or ... Jan 23, 2025 ... There are many specific requirements for insurance in strata schemes but as a general rule all insurances are taken out by the body corporate. With insurance rates for condos and townhouses climbing 50 to 300 percent – and in one case nearly 800 percent – condo and townhouse owners in BC are worried. Jul 30, 2021 ... The issue that we're all facing is the high deductibles for sewer/flood under the entire building's insurance that strata buys every year. cleaning. • insurance. • gardening. • small maintenance jobs. • building insurance. • utility bills for common property. • administrative costs. • strata ... Jun 12, 2023 ... Many strata insurance policies provide an optional section of cover called “Machinery Breakdown” or “Equipment Breakdown” to guard against monetary losses. Hutch's Residential Strata policy protects bodies corporate from Property and Liability claims. In an industry first, our innovative product offering includes ... Strata insurance usually includes cover for common areas such as gardens, lifts, walls, windows, pools, ceiling, floors and some liability cover for injury to ... Sep 7, 2021 ... The SCA Strata Insurance Taskforce brings together the strata management, insurance and broking industries with representation from across ...