Think strata building insurance covers everything inside your unit? ❌ Not quite! Many owners assume the strata building insurance will cover everything in and around their unit, including furniture, electronics, and even water damage to their carpets. But that’s not the case. ✅ Fact: Strata building insurance only covers the common property and the structural elements of your lot (think: walls, ceilings, floors, windows, depending on the strata plan). It does not cover your personal contents, temporary accommodation, or liability for accidents that happen inside your unit. What you still need: You should take out contents insurance (and landlord insurance if you rent it out) to cover:
Bottom line: Building insurance covers the structure, all fittings inside your lot is up to you to protect. |
