Insurance for owners within a Strata complex

Summary

In most situations, the Strata Company must be insured to cover the buildings, the common area and the common area contents. Strata Companies must also have legal liability of $5m. Under the new STAA 2018, this is set to increase to $10m.

As an owner, you are responsible for Insuring your contents within your lot. You should also consider landlords insurance if you are renting out your lot. There is a fact sheet below that may help guide you on what sort of cover may be appropriate.

Workers Compensation insurance is required by law if the strata company employs. In WA as per the Act, circumstances that deem whether someone is an employee or sub-contractor can be confusing, you can be employing and not realise.  The Strata Company will have many people coming onto common property attending repairs and maintenance work, we would always recommend a Strata Company has Workers Compensation Insurance.   Depending on what and how an accident happens, the contractor may make a claim under the strata Workers Compensation Insurance.  It is at the time of the accident that determines the facts and then who might be responsible. This is why it is important that the strata company has Worker Compensation insurance.


More Information

Owning, Living or renting in a strata unit.pdf