Many owners corporations renew their strata insurance year after year with minimal review — often through the same insurer, at whatever premium is presented. It is an understandable approach, but it is also one that frequently results in inadequate cover, missed savings, and unpleasant surprises at claim time. A specialist strata insurance broker changes that equation entirely.
What Does a Strata Insurance Broker Do?
A strata insurance broker is a licensed professional who specialises in arranging insurance for strata-titled properties and owners corporations. Their role goes well beyond simply finding a policy — they act as your advocate in the insurance market, ensuring your building is properly valued, your policy provides genuine cover, and your claims are handled effectively.
Key Services a Strata Broker Provides
- Building valuation advice — helping ensure your sum insured reflects the true cost to rebuild your property, protecting against underinsurance.
- Market comparison — approaching multiple specialist strata insurers to find the most competitive and comprehensive policy for your building.
- Policy review — carefully reviewing policy terms, conditions, and exclusions to ensure the cover is appropriate for your specific building and owners corporation.
- Claims management — acting as your advocate when a claim is lodged, managing the process with the insurer and working to achieve the best outcome for the owners corporation.
- Compliance guidance — ensuring your strata insurance meets the legal requirements of your state or territory.
- Committee education — helping committee members understand their obligations and the insurance program in place.
Why Not Just Go Direct to an Insurer?
Going direct to a single insurer means you only see one set of products at one price point. A broker accesses a broad panel of strata insurers — including specialist underwriters — and can negotiate on your behalf. For many owners corporations, this results in better cover at a more competitive premium.
More importantly, a broker provides advice. Strata insurance is complex, and the consequences of getting it wrong — particularly around sums insured and exclusions — can be severe. A specialist broker brings the expertise to get it right.
Talk to HC Insurance About Your Strata Property
At HC Insurance, our brokers have extensive experience in strata insurance across residential, commercial, and mixed-use properties. We work closely with owners corporations and strata managers to ensure every building we look after is properly protected. Contact us today for an obligation-free review of your strata insurance.