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5 Reasons Why You Need a Strata Insurance Broker

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Strata insurance plays a crucial role in protecting properties within a strata community. It provides coverage for commonly shared areas and assets, offering financial security in the event of unforeseen circumstances. However, navigating through the complexities of strata insurance can be daunting for property owners. This is where a strata insurance broker comes in to simplify the process and ensure that you have the right coverage in place.

What is Strata Insurance and Why Do You Need It?

Strata insurance is a type of insurance specifically designed for properties that are part of a strata community. It covers common property, shared assets, and liabilities that are beyond individual unit owners’ control.

Having strata insurance is essential to protect your investment in the property and safeguard against potential risks such as fire, water damage, and public liability claims. It provides peace of mind knowing that your property is financially protected.

A strata insurance broker acts as an intermediary between property owners and insurers. They offer expert advice, tailor insurance solutions to your specific needs, and help you navigate through the complexities of insurance policies and coverages.

 5 Reasons Why You Need a Strata Insurance Broker

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When it comes to managing the insurance needs of a strata property, having a dedicated strata insurance broker can make a significant difference. Here are five compelling reasons why you should consider working with a strata insurance broker:

 1. Expertise and Knowledge

A strata insurance broker specialises in the unique insurance requirements of strata properties. They have in-depth knowledge of the complexities of strata insurance policies, regulations, and coverage options. By leveraging their expertise, you can ensure that your strata property is adequately protected with the right insurance coverage tailored to your specific needs.

 2. Access to Multiple Insurance Providers

Strata insurance brokers have access to a wide network of insurance providers. This means they can compare multiple policies from different insurers to find the best coverage at the most competitive rates for your strata property. With their industry connections, they can negotiate on your behalf to secure comprehensive coverage that fits your budget.

3. Customised Insurance Solutions

A strata insurance broker can assess the unique risks and requirements of your strata property and customise an insurance solution that addresses these specific needs. Whether it’s coverage for common areas, liability protection, or building insurance, a broker can tailor a policy that provides comprehensive protection for your property and its residents.

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 4. Claims Assistance and Support

In the event of a claim, navigating the insurance process can be overwhelming. A strata insurance broker can provide valuable support and guidance throughout the claims process. They can help you understand your policy coverage, assist with documentation, and advocate on your behalf to ensure a fair and timely claims settlement.

 5. Ongoing Risk Management

Beyond securing insurance coverage, a strata insurance broker can also offer valuable risk management advice to help mitigate potential risks and minimise insurance claims. By proactively identifying and addressing risks, such as building maintenance issues or liability concerns, a broker can help prevent costly incidents and ensure the long-term protection of your strata property.

How Can a Strata Insurance Broker Help You Find the Right Coverage?

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A strata insurance broker has in-depth knowledge of the insurance market and can provide expert advice on the different insurance products available. They help you understand your options and choose the best coverage for your property.

By working with a strata insurance broker, you can compare insurance products from various insurers to find the most suitable coverage for your strata property. They analyse the features and benefits of each policy to ensure comprehensive protection.

Strata insurance brokers can obtain personalised insurance quotes tailored to your specific property requirements. This ensures that you receive competitive premiums without compromising on coverage.

What is Residential Strata Insurance?

Residential strata insurance policies may vary in coverage and exclusions. A strata insurance broker helps you understand the nuances of these policies and assists in selecting the most appropriate one for your residential property.

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Collaborating with a strata manager is crucial in assessing the insurance needs of the entire strata community. A broker works closely with the strata manager to ensure that all common areas and assets are adequately covered.

Common property insurance is a vital component of residential strata insurance. An experienced strata insurance broker can explain the extent of cover provided for common areas such as lobbies, driveways, and recreational facilities.

Benefits of Commercial Strata Insurance and Working with a Broker

Commercial strata properties have unique insurance needs due to the diverse nature of businesses operating within them. A strata insurance broker specialises in assessing these needs and recommending tailored insurance solutions.

Strata insurance brokers understand the complexities of commercial strata insurance and can provide customised advice based on the specific requirements of your property. They ensure that all assets and liabilities are adequately protected.

Building strong partnerships with insurers is crucial in securing comprehensive coverage for commercial strata properties. A reputable strata insurance broker has established relationships with insurers to negotiate competitive rates and enhanced coverage options.

Get a Quote and Evaluate Your Strata Insurance Options with HMD Insurance

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When it comes to strata insurance, it’s important to shop around and compare different policies to ensure you’re getting the best coverage at the most competitive price. At our company, we make it easy for you to get a quote and evaluate your strata insurance options.

To get started, simply visit our website and fill out our online quote form. Our team of experienced strata insurance brokers will review your information and provide you with a detailed quote tailored to your specific needs. We’ll take the time to understand your strata property’s unique risks and requirements, and provide you with a comprehensive insurance solution that offers the right coverage at the right price.

Once you have your quote, you can compare it to other policies and insurers to ensure you’re getting the best value for your money. Our team of brokers is always available to answer any questions you may have and provide expert advice and guidance to help you make an informed decision. We believe in building long-term relationships with our clients, and we’re committed to providing exceptional service and support every step of the way.

So why wait? Get a quote and evaluate your strata insurance options with us today. Our team of experienced brokers is here to help you protect your strata property and ensure peace of mind. Contact us today to learn more and get started.


A: Strata insurance is a type of insurance cover designed specifically for strata properties, including residential and commercial strata buildings. It provides protection for common property, common contents, and can cover bearers liability. You need strata insurance to ensure that your property and assets are adequately protected in case of unexpected events or damages.

A: Strata insurance covers not only individual units within a strata building but also common areas and shared facilities managed by the body corporate or owners corporation. Regular home insurance typically only covers the individual unit or property itself, without including common property or liability for the whole building.

A: You should consider consulting a strata insurance broker when you need specialised advice on strata insurance needs, want to ensure you have the right level of insurance cover for your strata property, or are looking for competitive strata insurance quotes from different insurers.

A: A strata manager is a specialist strata professional who oversees the management of strata title properties on behalf of lot owners. They work closely with body corporate committees to arrange services such as strata title insurance, office bearers liability, and association insurance. If you’re looking for Australia’s top strata insurance experts, you may want to consult a specialist strata insurance broker such as HMD Insurance.

A: When choosing a strata insurance broker, consider their expertise in strata insurance, experience working with different insurers, their ability to provide tailored insurance solutions for strata properties, and their understanding of the unique needs of body corporates and strata communities.

A: Yes, a strata insurance broker can assist with insurance for both residential and commercial strata properties. They have the knowledge and expertise to find suitable insurance cover for different types of strata buildings, including duplexes, townhouses, strata buildings, and mixed-use developments.

A: Insurers play a critical role in providing strata insurance by underwriting policies, determining insurance premiums, assessing risks associated with strata properties, and processing insurance claims in case of damages or losses. They work closely with strata insurance brokers to offer comprehensive insurance solutions for strata communities.

A: Strata insurance brokers can help body corporates choose the right insurance cover by conducting a thorough assessment of the strata property’s needs, comparing insurance quotes from different insurers, recommending suitable insurance products, and providing ongoing support in managing insurance claims and renewals.

A: Terms related to contract works insurance include annual policy, subcontractors, display homes, single project policy, and ABN (Australian Business Number).

A: Contract works insurance is crucial for businesses in the construction industry as it provides protection against potential financial losses due to unforeseen events during the project.

A: Builders, tradies, and construction companies often require contract works insurance to protect themselves and their projects during the construction process.

A: Brokers can assist in finding the right insurance policy tailored to your specific needs, ensuring you have the peace of mind you need while working on projects.

A: Contract works insurance is crucial in providing financial protection against unforeseen events that could cause damage to the build or impact the progress of a construction project.

A: Contract works insurance can be beneficial in cases of damage to the build, issues causing delays or disruption to the project, or liability for any accidents that may occur on the construction site.

A: Contract works insurance is specifically designed to cover risks associated with construction projects, such as damage during construction, while other business insurances may focus on different aspects of a company’s operations.

Sharon Bae (shazbae)
Sharon Bae (shazbae)
Glenn from HMD Insurance spent time to understand my business in order to obtain the right insurances for my business. I was very impressed with how knowledgeable he is and the way in which he explained the options so that it was easy to understand. Very impressed and recommend highly!
Brett Parker
Brett Parker
Glenn is a pleasure to deal with and always the client's best interests in mind when providing insurance solutions.
Melissa Duck
Melissa Duck
My experience with HMD Insurance has been nothing short of exceptional. David was easy to work with, handling all of my questions with expertise and unwavering professionalism. I really appreciated David's attention to detail and clear communication every step of the way.
Asmarina Store
Asmarina Store
HMD Insurance had excellent customer service. The were extremely helpful to get us retail business insurance cover better than others. 5 star customer service!
Lorenzo Gonzalez
Lorenzo Gonzalez
Glen is easy to work with and got us better rates than the our previous brokers.
Nick Bendel
Nick Bendel
A big thank you to David and the HMD Insurance team for organising several insurance policies for my company, Hunter & Scribe. You provided expert advice, patiently answered all my questions, and then, once I'd chosen my policies, moved very quickly to ensure my company was able to hit a particular deadline. Thanks to your great service, I knew I was in safe hands from the moment we started working together. I look forward to you handling my company's insurance needs for years to come.

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