
CHU Residential Strata Insurance
No one understands strata living quite like CHU.
Since 1978, we've led the way in fostering Australia’s healthiest and most resilient strata properties, by providing comprehensive cover that goes beyond buildings, to focus on strengthening the communities we serve.
That’s why our market-leading Residential Strata Insurance has been redesigned with community in mind - offering owners even greater protection.
Why Residential Strata Insurance?
To ensure strata communities protect their people, each state and territory requires that strata title properties hold residential strata insurance.
While each state and territory has different legislative requirements, CHU’s Residential Strata Insurance has always been designed to cover common areas as defined on the property’s title, including common property such as lawns, driveways, lifts and pools from events such as theft, storm, water damage, fire and malicious or accidental damage.
This ensures that repair and replacement costs are covered in the event of unforeseen incidents, providing financial protection for unit owners and owners corporations.
Residential strata insurance must also provide liability cover in the event of personal injury in connection with the insured property.
What does CHU Residential Strata Insurance Plan cover
Our Residential Strata Insurance plan has always provided comprehensive coverage for both the building and common area contents of residential strata properties.
This includes protection against natural disaster damage, fire, accidental damage, and legal liabilities.
This ensures your strata property is well-prepared for any unexpected events, whether safeguarding the strata property’s physical assets or offering legal protection.
CHU’s Residential Strata Insurance Plan includes cover for:
- Building and common area contents
- Emergency and temporary protection
Legal liability - Temporary accommodation and rent
- Removal and storage of contents due to damage to property
- Office Bearers Liability
In addition to these standard inclusions, CHU has also added a Lot Owners Contents extension option, in order to simplify, support, and cover communities in the most comprehensive way possible.
Lot Owner Contents Extension
Lot Owner Contents Insurance bridges the gap between strata insurance and traditional contents policies. Owners can now liaise with one insurer instead of two, for a claim where both common property and certain owner contents are impacted. Streamlining the claims process in this way minimises disruption and ensures a simpler experience for owners.
This new coverage supplements, rather than replaces, traditional comprehensive contents coverage, as it includes fixtures and fittings such as home appliances, curtains, blinds and carpets, not personal belongings such as clothing, jewellery or other accessories.
For example, if damage has occurred to the strata building as a result of previously defined events, and a small section of an owner’s property is impacted (e.g. carpets, blinds, furnishings), the claim is simplified by having one party complete the entire rectification process.
This will mean no extended wait times or unexpected gaps in support between multiple insurers.
Lot Owners Contents Cover FAQs
Office Bearers Liability
As Strata Committees are made up of strata community volunteers, navigating complex strata governance rules.This cover safeguards committee members should they become legally liable while carrying out their duties.
Due to the potentially damaging outcomes of legal action for strata communities, the Office Bearer Liability coverage in our Residential Strata Insurance plan has changed from being an optional add-on, to an inclusion.
With Office Bearers Liability now included, legal costs and damages awarded against committee members are covered if they face claims for wrongful acts, errors, or omissions in managing the strata property.
Office Bearers Liability Scenarios
Fidelity Guarantee
Previously optional, Fidelity Guarantee is now also included in our Residential Strata Insurance plan, as it protects the body corporate against financial losses resulting from the fraudulent misappropriation of their funds.
This protection is particularly crucial for strata managers, committee members, and other individuals entrusted with managing the body corporate's finances.
Simplified language to get to the heart what matters
We’re committed to the communities we serve, that's why we’ve made every effort to make our Residential Strata Insurance policy wording easier to understand.
All building related covers (Insured Property, Machinery Breakdown, Catastrophe Cover and Lot Owners’ Fixtures and Fittings) are now included in one section of the PDS, enabling owners to decide what type of cover best suits them.
Our team would love to chat about your Residential Strata Insurance plan.


Emergency and temporary protection

Legal liability

Temporary accommodation and rent

Removal and storage of contents due to damage to property

Office bearers' legal liability
Important documents
Name | Link |
PDS and policy wording for policies effective 31 July 2025 |
Download |
What has changed for policies effective 31 July 2025 |
Download |
PDS and policy wording for policies effective 1 October 2023 |
Download |
Target Market Determination (TMD) |
Download |
Lot Owners Contents Cover FAQs |
Download |
Lot Owners Contents Cover Case Study |
Download |
Office Bearers Legal Liability Cover Scenarios |
Download |
Why choose CHU?

Over 1 million properties protected

24/7 Emergency Hotline

Over 40 years of insurance expertise
Peace of Mind for Common Strata Risks
Owning a residential strata property comes with shared responsibilities and risks. Insurance plays a pivotal role in managing these risks, providing reassurance that your property and its residents are protected. Some of the most common strata risks include:
1. Leaking roofs, burst pipes, and electrical issues:
Whether due to heavy rain, hail storms or falling trees , insurance can cover the repair costs associated with water or fire damage caused by these issues.
2. Fire damage, theft, and vandalism:
Naked flames, cooking accidents, and faulty heating systems can lead to fire damage. Vandalism and theft can also occur, leading to damage or loss of property. Insurance plays a crucial role in these situations by covering the costs associated with repairing or replacing property and damaged items.
3. Personal injury within common areas:
Accidents such as slips on wet surfaces and falls on stairwells are a common risk in strata properties. Insurance can cover medical expenses and potential liability claims made by residents or visitors injured while in shared spaces.
4. Legal claims against the body corporate:
Disagreements and disputes may be made against the body corporate. If these issues escalate to a legal dispute, insurance provides coverage for the legal costs and potential liabilities – ensuring the body corporate is financially protected.
Protect your residential strata property with CHU's comprehensive insurance coverage. Request a quote today and ensure your property and its residents are well-protected from common risks.
How is strata insurance different from home insurance?
Strata insurance covers common property and shared areas in strata-titled properties, while home insurance covers individual units or houses. Strata insurance also typically includes liability protection for the body corporate and its members.
Do I need to get additional insurance if I already have strata insurance?
It is advisable to check what is covered under your strata insurance policy and determine if you require any additional coverage for personal belongings, improvements to your unit, or additional liability protection. We offer contents insurance if you live in an apartment, unit, villa or townhouse to protect your personal belongings, as residential strata insurance only protects the building, not your personal property or possessions.
Frequently asked questions
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Is Residential Strata insurance mandatory?
Is Residential Strata insurance mandatory?
Generally speaking, strata Insurance is a legal requirement and normally the responsibility of the strata title owners, with the cost split between the individual unit owners. If you live in one of the following, chances are you need Strata Insurance.
- Townhouse
- Unit/Flat
- Apartment
- Duplex
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What is the excess on my policy?
What is the excess on my policy?
An excess is an amount a policy holder must pay if they proceed with making an insurance claim on their insurance policy. The standard excess on our residential policies varies by total insurable value:
- For policies with a building sum insured < $2M – $1,000 excess applies.
- For policies with a building sum insured > $2M – $2,000 excess applies.
- For policies with a building sum insured > $50M – $5,000 excess applies.
You may choose to voluntarily increase or decrease this excess. This may result in changes to your premium.
There may be additional excesses imposed depending on the individual situation, such as claims performance, the presence of defects or other issues. Please check your quote thoroughly for more information.
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Are there any exclusions to the Residential Strata Insurance Plan?
Are there any exclusions to the Residential Strata Insurance Plan?
Yes. General exclusions are outlined in the General Exclusions section of the Product Disclosure Statement and Policy Wording. There are also policy specific exclusions to the Residential Strata Insurance Plan located within each policy section.
Sometimes, we may place additional exclusions on your policy in specific situations; please review your policy carefully and contact us for information on any other specific exclusions.
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Why do I need Loss of Rent and Temporary Accommodation when my building is owner occupied?
Why do I need Loss of Rent and Temporary Accommodation when my building is owner occupied?
The standard loss of rent and temporary accommodation sum insured limit that is offered under Policy 1 is 15% of the building sum insured value. This benefit covers owners who lease out their lot but also lot owners who reside in their unit - if the property becomes uninhabitable or unfit for purpose due to a claimable event, CHU will cover the reasonable costs for the residing owner to live in accommodation, or the rent that the owner will lose as a result of the tenants vacating.
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What is Fidelity Guarantee?
What is Fidelity Guarantee?
Fidelity Guarantee is cover for the Body Corporate in the event your Funds are misappropriated during the Period of Insurance. Whilst only required by legislation in South Australia, Fidelity Guarantee forms part of CHU's specialised cover and is standard on all residential strata policies.
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What is Common Area Contents?
What is Common Area Contents?
A range of items that are owned or the legal responsibility of the Owners Corporation and are located in or adjacent to the common areas of the strata property. These items include furniture, furnishings, household goods, light fittings, internal blinds, curtains, fire extinguishers, built-in or freestanding appliances, carpets, floor rugs, and various other items. For example: carpet in shared staircase, garden furniture in a communal backyard. Items such as driveways, letterboxes, lighting and any other permanent fixtures or structures are covered by the building sum insured.
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Can I cancel my policy if I’ve sold my unit?
Can I cancel my policy if I’ve sold my unit?
We do not cancel strata policies mid-term due to sale. Strata insurance policies in Australia are not held by the owners of a unit, but rather by the strata scheme as an entity. If an owner has sold, and no longer forms part of the Owners Corporation, they are no longer party to a strata policy. In most cases, pro-rated insurance payments are considered as part of a settlement process between a lot owner and conveyancer.
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What is Lot Owners Fixtures and Fittings?
What is Lot Owners Fixtures and Fittings?
Lot owner’s fixtures and fittings refers to any fixture or structural improvement installed by a lot owner for their exclusive use and which is permanently attached to or fixed to the building so as to become legally part of it. This includes any improvements made to an existing fixture or structures.
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How does Office Bearers' Legal Liability protect lot owners?
How does Office Bearers' Legal Liability protect lot owners?
Office Bearers' Legal Liability protects lot owners by providing coverage for legal expenses that may arise from claims made against the Office Bearers of the strata-titled property. This includes claims for wrongful acts, errors, or omissions committed by the office bearers in the course of their duties. The specific coverage details are outlined in the Policy Wording.
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What is the minimum amount of Liability needed for my state and is there any other covers that I must have for my state for Residential Strata?
What is the minimum amount of Liability needed for my state and is there any other covers that I must have for my state for Residential Strata?
Liability to others (sometimes referred to as Public Liability) is a compulsory requirement under legislation. The minimum limit of liability varies between states and territories as follows:
WA $5,000,000 in a survey strata or non-single tier strata scheme (e.g. A multi-storey block of flats) $10,000,000 in a Single Tier Strata Scheme:
TAS - minimum of $5,000,0000
VIC - minimum of $20,000,000
SA - minimum of $10,000,000, as well as mandatory cover for fidelity guarantee
QLD - minimum of $10,000,000
NT - minimum of $10,000,000
NSW - minimum of $20,000,000, as well as mandatory cover for voluntary workers
ACT - minimum of $10,000,000
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What is Cladding?
What is Cladding?
Cladding is a broad term referring to material used to provide a decorative finish on the outside of a building. Common cladding materials may include timber, weatherboard, fibre cement, vinyl and composite materials such as Aluminium (ACP) or Expanded polystyrene (EPS). and metal.
Where ACP or EPS cladding materials have been used, CHU may require further information, such as product name, percentage of coverage and confirmation from a qualified professional that the cladding complies with the National Building Code.
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How do I know how much to insure my building or strata for?
How do I know how much to insure my building or strata for?
Obtaining a current strata building valuation is the best way to know how much to insure for. The valuation needs to accommodate for the full reinstatement of your property so it is not worse or less extensive than when new, along with including allowances for additional costs such as removal of debris, professional fees and cost escalation.
Recent escalations in building prices mean that if your building has not been valued in the past 12 months, there is a likelihood it is underinsured, and in some states and territories, there is a requirement to obtain a valuation at least once every five years. Without being otherwise directed, CHU will automatically index the sum insured at each renewal.
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I have taken out Residential Strata Insurance - do I require any other insurance?
I have taken out Residential Strata Insurance - do I require any other insurance?
Although not legislated, we recommend Landlords insurance cover for those leasing their strata unit, to continue to receive rent if your tenant suddenly departs or damages your property where it is unfit to be occupied, and to cover items such as carpets, blinds and appliances. For those occupying their own strata unit, we recommend Contents insurance cover for your fixed and portable possessions to protect from theft, accidental or malicious damage, water damage, fire and storms.