Strata Insurance at a glance

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If you own a townhouse, unit or apartment and you're sharing common space with others, you don't want to be left to foot the bill if there's damage to shared parts of the building or items.

Strata Insurance protects the building and common areas or facilities, with the premiums paid for by the owners' corporation. Strata insurance is compulsory in every state - so if you're part of an owners' corporation in a townhouse, unit, flat, apartment or duplex, the owner's corporation will need strata insurance.