What is Home and Contents, Landlords and Strata Insurance?
Simply put, home and contents insurance covers the place you call home, and the contents of your home for any loss or damage caused directly by an insured event, like a robbery or a bushfire.
Residential Strata Insurance, or Landlords Insurance, covers the dwelling and the option of fixtures and fittings for any loss or damage caused directly by an insured event.
Residential Strata Insurance (or otherwise known as residential landlords insurance) is taken up by body corporates, who co-own and share ownership responsibility for the strata property. This includes townhouses, units, and apartments. Strata Insurance can provide cover for permanent fixtures such as doors, stoves, walls, as well as shared common areas including gyms and pools.
Each cover will vary by the policy provider, and some areas of the property might not be insured like you would expect. It’s best to seek the professional advice of our insurance risk adviser at Adroit to find out which home and contents, landlords and residential strata insurance policy is right for you.
What is Included in Home and Contents, Landlords, Residential Strata Insurance?
Both home and contents insurance as well as residential strata insurance can be insured for events such as flooding, fire, earthquakes, storm or water damage, and more.
However, home and contents insurance only provides protection for an individual homeowner’s personal belongings or household items when they’re lost, damaged, or stolen. Residential landlord insurance on the other hand covers the costs associated with replacing or repairing damaged areas of the building that are co-owned by all members of the body corporate.
- Clothing, jewellery and other accessories
- Other electrical appliances
- Shared or common areas including lifts, gardens, gyms, car parks, pools, tennis courts and more
- Permanent fixtures such as walls, floors, doors, stoves, paint on walls, and more
- Light fittings
- Built in wardrobes
- Property damage caused by tenants
- Injuries to tenants
Adroit Insurance & Risk are available 24/7, providing you with help and assistance when you need it.
Frequently asked questions
Any body corporate or Home Owner (whether you reside in the home or act as a landlord for the residents) should take out the above insurance policies to cover one of their biggest assets.
For home and contents insurance, individual homeowners need an adequate level of cover to insure their personal and household belongings – since this will not be covered by the landlords or strata insurance.
Strata insurance will only apply to body corporates with shared ownership of a multi-unit residential property.
The policy covers your assets against any loss or damage to your home, contents or both caused directly by an insured event. Therefore if loss or damage does occur there is cover in place to repair or replace the home.
Covering the cost of damage, theft, or injury can cause an extreme financial strain and burden if you’re not protected with the right insurance. Paying these costs out of pocket could be incredibly challenging or impossible in severe cases.
Whether you’re after home and contents insurance and/or landlords and strata insurance, Adroit is here to help you get the cover you need.
Take out an insurance policy to cover your assets. Homeowners like yourself need to protect your buildings and contents to avoid large out of pocket expenses that you could potentially not be able to recover from.
Residential strata insurance covers multiple properties so it’s important to carefully review the policy and ensure your building is protected when you need it.
The condition, age, location, size, maintenance requirements are just among a few of the many factors that are taken into account when valuing the best home and contents and/or landlords residential strata insurance policy.
At Adroit, we understand you want to get the most out of your insurance covers and confidently know you’re in safe hands for when the unexpected happens. After assessing and acquiring detailed information about your property, our team of risk advisers will be able to provide you with accurate home and contents, as well as landlords or residential strata insurance quotes tailored for you.