Under recent amendments to residential strata law, all owners’ corporations with more than two units are obliged to package their insurance for the buildings and liability for the common property under a residential strata insurance policy.
Strata Insurance provides cover for the common or shared property for apartment buildings or flat complexes. As well as insuring the building itself, Residential Strata insurance also extends to cover the common areas such as gardens, lifts, car parks, balconies, pools, spas and even tennis courts.
