Overview
SUU’s specialised strata insurance products are uniquely designed to provide superior, comprehensive insurance coverage to promote peace of mind in strata living. Below is a summary of the Product Coverage and Key Features of our Residential Strata cover.
Product Coverage
Our comprehensive, 13-section residential strata policy provides coverage associated with:
- Accidental Damage, Physical Loss, or Destruction of your building or common contents
- Breakage of Glass
- Loss or damage of property as a result of theft or attempted theft
- Legal liability for Owners Corporation/Body Corporate
- Loss following fraudulent misappropriation of funds
- Office Bearers’ Liability
- Injury of Voluntary Workers
- Government Audit Costs for your financial affairs
- Legal expenses following proceedings brought against you
- Legal expenses for Workplace Health and Safety Breaches
- Machinery Breakdown
- Lot-owner improvements
- Workers Compensation
Key features
Residential Strata key features are:
- Storm surge cover resultant from named cyclone
- Automatic 15% Catastrophe cover (optional additional 15%)
- Automatic 15% Loss of Rent cover (optional additional 15%)
- Liability cover for Members, Volunteers, Voluntary Workers and Fire Wardens
- Liability and Office Bearers’ cover for your Strata Manager whilst acting in the Body Corporate’s capacity
- Strata Manager Defence costs
- Office Bearers’ cover extended to 30 days following expiry
- Office Bearers’ cover including automatic reinstatement of sum insured
- Office Bearers’ cover for unintentional acts outside of authority
- Office Bearers’ cover for your unintentional decision not to effect and maintain insurance as required under your strata legislation
- Automatic Paint and Wall coverings cover (NSW/ACT)
- Optional Floating Floor cover
*Flood cover considered on request
