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Residential Strata Insurance

Need insurance for your strata scheme building? Get cover for fires, storms, accidental damage and more.

What is Strata Insurance?

Residential Strata Insurance is a specialised form of property insurance designed for properties like apartments, townhouses, and units that share common areas.

It provides cover for the building/s as well as shared common property spaces such as gardens, driveways, and pools against loss or damage caused by insured events like storms, fire, or vandalism.

You can also choose optional cover for machinery and equipment breakdown, such as when an elevator or air-conditioning unit unexpectedly stops working.

Is Strata Insurance right for you?

Residential Strata Insurance can help give you protection and peace of mind for:

  • buildings that are strata titled or have a similar title
  • entities that are responsible for insuring a strata titled property.

A body corporate manager or committee member should be able to inform you if your complex has Strata Insurance.

If you are a tenant (not an owner) in one of the above property types, you may wish to consider Renters Insurance.

If you are a homeowner who is not part of a strata scheme, we have Home Insurance policies that may be more suitable.

Strata vs Contents Insurance

Our Residential Strata Insurance is designed to cover a property's building and shared common property spaces (such as gardens, driveways, communal laundries or pools) from damage or loss caused by an insured event.

There is optional cover for machinery breakdown, such as air conditioners and heating units. It doesn’t cover an owner or renter’s personal belongings.

Put simply, Strata Insurance helps building owners protect shared spaces and structures from covered events, while Contents Insurance covers personal belongings inside a home.

For the full list of what each policy covers, please read your policy’s PDS, PED and TMD. You can find them on our policy booklet page.

Insurance

What does Residential Strata Insurance cover?

Call 132 132

Included

Here’s a summary of what’s included for your residential strata property

  • Loss of rent for lot owners
    We cover up to 12 months’ lost rent if your building’s damaged in a covered event and your lot owner’s tenants can’t live in it while it’s being repaired or rebuilt.

  • Theft & vandalism
    We cover loss or damage to your property and common contents from theft and vandalism2.

  • Flood, storm & storm-surge
    We cover damage to your property and common contents caused by flood, rainwater run-off, storm, storm surge and tsunami3.

  • Impact damage
    We pay for damage to your property and common contents caused by impact from things like vehicles and trees5.

  • Lightning
    We cover your property and common contents for damage and power surges caused by lightning.

  • Liability for injury or damage
    We cover your legal liability in some situations if someone’s injured or their things are damaged at the property (up to $20m).

  • Temporary accommodation
    Cover for your lot owner’s reasonable temporary accommodation if they can’t keep living in the property after a covered event (up to 12 months)1.

  • Fire
    We cover loss and damage to your property and common contents caused by fire (including bushfire).

  • Damage from leaks
    We cover damage to your property and common contents caused by liquid leaks, like water from a burst pipe or oil from a broken heater4.

  • Broken glass
    We cover accidentally broken glass in some of your furniture and fixtures, like mirrors and oven doors.

  • Demolishing & removing debris
    If your property is damaged by a covered event, we pay to demolish and remove debris, including damaged Common Contents6.

Not included

  • Wear and tear
    We don’t cover normal wear and tear that happens as your property or common contents are used.

  • Animal damage
    We don’t cover damage by your lot owner’s animals, or animals allowed into your property.

Optional extras

Choose from these optional benefits when you’re getting a quote

  • Motor burnout
    Add cover for electric motor burnout in fixtures and appliances like air con and washing machines, including parts and labour7.

  • Machinery breakdown
    Add cover if your machinery like lifts and heaters are damaged during normal use (up to $25,000).

What property types does Residential Strata Insurance cover?

Generally, Residential Strata Insurance covers strata-titled building types such as:

  • units, flats or apartments
  • townhouses, villas or duplexes

In these buildings, we can help cover:

  • the building structure (e.g. fixed coverings to walls, floors, ceilings and permanent fixtures)
  • driveways (excluding gravel driveways)
  • inbuilt swimming pools
  • shared gardens

This policy also helps cover common area contents such as:

  • furniture
  • fixed carpets, curtains and internal blinds
  • computer and electronic equipment in shared spaces
  • built-in heaters and air conditioners
  • electrical motor burnout of fixtures and appliances is optional cover

For the full list of what the policy covers and relevant exclusions, please read the Product Disclosure Statement.

Why choose NRMA Residential Strata Insurance?

Protection that matters

We cover impact damage5, theft and vandalism damage, accidentally broken glass, and more2

Storm, flood and fire cover

Get peace of mind when severe weather strikes3

Optional machinery breakdown cover

Worry less about broken lifts and heaters if they are damaged during normal use (up to $25,000) with our optional cover

Australia's most trusted insurance brand 4 years in a row

Awarded by Roy Morgan’s Trusted Brand Awards in the category of insurance for 2022, 2023, 2024 and 2025.

Make sure to read our policy booklets

They’ll give you full details on limits, conditions, exclusions and more

Supplementary Product Disclosure Statement
Product Disclosure Statement
Target Market Determination
Premium, Excess & Discounts Guide

Important note for customers in NSW, QLD, TAS & ACT. If you purchased your policy before 21 April 2024 and you either haven't renewed it yet or you last renewed it before 1 July 2024, your cover will be different to the cover described above. Read the Product Disclosure Statement (PDS) relevant to your policy on our policy booklets page, or call us on 132 132 for more information.

Renting out your investment property?

We've got cover for that, too.

Check out Landlord Insurance

Learn more about Strata Insurance

Did you know our Residential Strata Insurance also covers some landscaping and storage costs?

Read the PDS

Call us on 132 132 to make a claim 24/7

Learn about claims
FAQs

Strata Insurance FAQs

Read more

Yes. Our Strata Insurance policies cover damage to your property and common contents caused by flood, rainwater run-off, storm, storm surge and tsunami3, as well as liquid leaks4, like water from a burst pipe or oil from a broken heater.

Residential Strata Insurance doesn’t cover tenants' personal belongings or liability. Strata Insurance is designed to protect the building/s and common areas of a property that is managed under a strata scheme. If a tenant wants to cover their belongings, they might want to consider getting Contents Insurance for Renters.

This can depend on what has happened, who manages the building (i.e. strata, owners’ corporation or body corporate) and how many lots you’re making a claim for.

Based on these factors, the owner of the damaged property might be responsible for paying the excess, or it might be the owners’ corporation – especially if multiple lots have been impacted by the covered event.

When you make a claim, we may ask you to provide documents that help us assess and settle your claim. Documents can also be used to help us identify correct replacements for you.

Some examples of the types of documents are receipts, valuation certificates, credit card or bank statements, photos or emergency services reports.

The cost of Residential Strata Insurance depends on lots of factors, including the building’s address and how much cover you need.

To see how much Residential Strata Insurance costs, call 132 132.

Strata Insurance is designed for strata schemes and shared spaces. It’s usually arranged by an owners corporation or body corporate.

Home Insurance generally applies to an individual house or a building on a non-strata property. It’s typically purchased by whoever owns the individual house or building.

When you’re renting a home, Renters Insurance is an option for protection of your belongings.

This policy will generally cover your personal items while you are living in a property you don’t own.

Our Residential Strata Insurance includes public liability cover as part of our standard policy.

If a covered event occurs at the insured property, such as someone being injured in a common area – or their property being damaged, we can cover up to $20 million in legal liability.

Please note that personal liability does not cover individual tenants or owners. See the PDS for more information.

Short-term rentals and holiday letting are usually not included as part of Strata Insurance.

If you are considering renting your home through a recognized online home sharing website like Airbnb or Stayz, consider our Holiday Rental Insurance to keep your home protected. Holiday Rental Insurance helps cover:

  • accidental damage, theft and vandalism directly caused by a guest, loss of rent after a covered incident and more when you have short-term guests renting
  • just one night, or up to 90 nights
  • your building (up to $2 million) and your contents (up to $500,000).

We work with ShareCover to provide this policy. See the PDS for more information.

Existing customers

Already have a policy with us?

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Manage regular payments
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Protect your property with NRMA Home Insurance

We can cover the cost to repair or rebuild your home if it’s damaged or destroyed by an incident we cover, up to the sum insured.

We offer cover for items in your home, even if you accidentally leave a window or door unlocked.

Protect your rental property, its contents, or both. We can cover rent default, as well as damage to your property from theft, vandalism, fire, storms and more.

Already with us?

Log in to manage your policies, get your documents and update your details online.

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Need help?

We’re here for you. Call us on 132 132.

Contact us

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Things you should know

  1. Cover is only available if the relevant lot owners lived in your property permanently before the accident. Cover is available up to 10% of your sum insured if all lots in your property are unable to be lived in due to the covered incident, or a pro rata proportion of that amount if only some lots are impacted. We must agree to the costs before they are incurred. Check the PDS for full conditions, limits and exclusions.

  2. We don’t cover theft or vandalism by you, a lot owner, an office bearer or someone acting with their consent. Check the PDS for full conditions, limits and exclusions.

  3. We don’t cover actions of the sea, such as tides and waves. Check the PDS for a full list of exclusions. For insured properties in NSW, ACT or Tasmania, if we give you the option to remove cover from your Property and Common Contents insurance for flood, rainwater run-off and storm surge and you choose to do so, you won’t be covered for loss or damage to your property and common contents caused by flood, rainwater run-off or storm surge.

  4. We don’t cover damage caused by water leaking or escaping from a shower recess. We don’t cover loss from erosion or other earth movements. We don’t cover the costs to repair or replace the item that the liquid leaked or escaped from. Refer to the PDS for a complete list of what we do not cover.

  5. We don’t cover loss or damage caused by tree cutting, lopping or felling unless performed by a professional.

  6. We will pay up to 10% of the ‘Building and Common Contents’ Sum Insured for this additional benefit.

  7. We can cover electric motors for up to 15 years after they were made, provided they are not covered by a warranty, you do not use them for a business, trade or profession and they are kept at your home or site. We do not cover the cost to remove or install submerged or underground motors.