Common claims

While every building is different, many strata insurance claims arise from a relatively small number of recurring events. Understanding these common causes can help committees reduce risk through proactive maintenance and effective building management.

Common strata insurance claims include:

• Escape of liquid from burst pipes, failed flexi hoses and plumbing systems.
• Storm and weather damage.
• Water ingress through roofs and common property.
• Impact damage.
• Fire and smoke damage.
• Malicious damage and vandalism.
• Glass breakage.
• Public liability incidents occurring on common property.
• Machinery breakdown affecting lifts, pumps and building services where covered.

Many claims originate from maintenance issues that develop gradually over time. Regular inspections and preventative maintenance can often reduce both the frequency and severity of claims.

At Strata Real Estate Services, we assist committees by coordinating repairs promptly, maintaining accurate records, working with insurers and brokers throughout the claims process and helping owners understand the practical steps involved in lodging and managing insurance claims.

Committee members and owners should review the Strata Management Agency Agreement to understand any remuneration, commissions, fees or other benefits the strata manager may receive in connection with arranging, renewing or administering the Owners Corporation’s insurance policies.

The information above is provided as general information only and should not be considered financial, insurance or legal advice. Owners Corporations and individual owners should obtain independent professional advice appropriate to their circumstances.