What information is needed for a strata insurance quote or renewal

Requesting a strata insurance quote or arranging a renewal review is usually easier when the strata scheme has its key information ready before approaching insurers or brokers. The details requested can vary depending on the insurer, the building, the state or territory, and the complexity of the scheme, but most assessments rely on a similar set of facts.

This guide explains the information commonly needed for a strata insurance application or renewal, including building details, sums insured, claims history, occupancy, common property assets and existing policy information. It is general information only and does not replace advice tailored to a specific scheme.

Why insurers ask for detailed strata information

Strata insurance is assessed differently from standard home insurance because the policy usually protects shared property and collective legal interests. An insurer may need to understand the building structure, the number and type of lots, shared facilities, maintenance history, exposure to natural hazards and previous claims before deciding whether to offer terms and at what premium.

Providing incomplete or inconsistent information can slow the quote process. It may also lead to follow-up questions, assumptions that do not reflect the property accurately, or difficulty comparing quotes on a like-for-like basis.

If your scheme is ready to start comparing options, you can begin through Strata Insurance Online, but it is still useful to gather the information below before submitting a request.

Quick checklist: information commonly needed for a strata insurance quote

A strata manager, committee or body corporate representative may be asked to provide some or all of the following:

• Strata plan or community title details, including the property address and number of lots.
• Building construction details, age, storeys and major structural features.
• Current replacement value or insurance valuation, if available.
• Details of common property, shared facilities and common contents.
• Existing policy schedule, renewal notice and premium history.
• Claims history, usually covering recent years where records are available.
• Occupancy information, including residential, commercial or mixed-use activity.
• Known defects, maintenance issues, cladding, fire safety matters or major works.
• Risk management details such as security systems, fire protection and maintenance programs.
• Contact details for the strata manager, owners corporation, body corporate or authorised committee representative.

The exact information required will depend on provider criteria and the nature of the scheme. A small residential townhouse complex may have a simpler information request than a high-rise apartment building, mixed-use development or commercial strata property.

Scheme and property details

The starting point is usually basic identification information. This helps the insurer confirm what property is being assessed and how the strata scheme is structured.

Common details include:

• Property address and strata plan or scheme number, if known.
• Number of lots, units, apartments, townhouses, car spaces, storage lots or commercial lots.
• Whether the scheme is residential, commercial, industrial, retail, mixed-use or another format.
• Name and contact details of the owners corporation, body corporate, strata company or strata manager.
• Any related entities or layered arrangements, such as community title, building management committees or shared facilities with another scheme.

Terminology differs across Australia. For example, some jurisdictions use the term owners corporation, while others commonly use body corporate or strata company. The practical insurance question is usually the same: who is responsible for arranging insurance for the shared property and what assets need to be covered?

Building construction and physical risk information

Insurers commonly ask for construction details because they affect the likely cost and complexity of repair or rebuilding. This can also influence how the insurer views fire, storm, water damage and other property risks.

Details that may be requested include:

• Year built or approximate age of the building.
• Number of storeys, basements and lifts.
• Construction materials, such as brick, concrete, steel, timber or lightweight cladding.
• Roof type and roof materials.
• Presence of lifts, pools, gyms, car stackers, solar systems, electric vehicle charging infrastructure or other shared assets.
• Fire protection systems, sprinklers, alarms, hydrants, extinguishers and evacuation systems.
• Security systems, access control, CCTV or secure parking arrangements.
• Whether the property is heritage listed or has design features that may increase repair complexity.

If the scheme does not have every detail available, it is better to say so rather than guess. A broker or insurer may be able to explain which details are essential and which can be confirmed later.

Replacement value, valuations and sums insured

One of the most important inputs for a strata insurance quote or renewal is the building sum insured. This is generally intended to reflect the cost of reinstating or replacing insured property, rather than the market sale value of the lots.

A current insurance valuation can help the scheme review whether the selected sum insured remains appropriate. The valuation may consider rebuilding costs, professional fees, demolition, debris removal and other reinstatement-related costs, depending on the valuation scope and policy requirements.

Useful documents may include:

• A recent insurance replacement valuation.
• The current policy schedule showing insured amounts.
• Details of building improvements, extensions or major upgrades since the last valuation.
• Information about shared assets, plant and equipment.
• Any known underinsurance concerns raised by a prior insurer, valuer or broker.

Choosing a sum insured is a significant decision for a strata scheme. Committees should avoid relying only on the previous year's figure without considering changes in building costs, property improvements, defects, major works or valuation advice.

Common property, shared facilities and common contents

Strata insurance generally focuses on the building and common property, but the exact boundary between strata property and owner responsibility can vary by state or territory, scheme documents and policy wording.

When preparing information, list shared assets that could affect the policy. Examples may include:

• Hallways, foyers, stairwells and shared entrances.
• Gardens, fences, driveways, paths and external common areas.
• Lifts, pumps, boilers, air-conditioning plant and building services.
• Pools, gyms, barbecue areas, recreation rooms and rooftop spaces.
• Shared furniture, equipment, tools or common contents owned by the scheme.
• Car parks, storage areas, gates and access systems.

If owners are unsure what strata insurance generally covers compared with lot owner responsibilities, it may help to review a broader explanation of what strata insurance covers before requesting quotes.

Occupancy and use of the property

Insurers will usually want to understand how the property is used. A purely residential apartment building may be assessed differently from a scheme with shops, offices, restaurants, short-stay accommodation, industrial activity or a mix of residential and commercial lots.

Information that may be relevant includes:

• Approximate split between owner-occupied, tenanted and vacant lots.
• Any short-term letting, holiday accommodation or serviced apartment use.
• Types of commercial tenants or businesses operating on site.
• Any hazardous activities, high foot traffic, cooking operations or storage of materials.
• Whether parts of the property are unoccupied, undergoing works or not in normal use.

For mixed-use or commercial strata properties, more detail may be required because different occupancies can create different property and liability exposures.

Claims history and incident records

Claims history is a common part of a strata insurance renewal or new quote request. It helps insurers understand the scheme's past loss experience and whether there are recurring issues that need to be addressed.

Useful claims information may include:

• Date and type of each claim or incident.
• Cause of damage, such as water escape, storm, fire, impact, theft or liability incident.
• Amount paid, excess applied and claim status, where available.
• Whether the underlying issue was repaired or remains unresolved.
• Any risk improvements made after the claim.

For example, a single storm claim may be viewed differently from repeated water damage claims from the same pipework issue. If the committee has taken steps to reduce the risk of recurrence, provide that context rather than only listing the claim.

Maintenance, defects and risk management

A scheme's maintenance history can influence how an insurer assesses risk. Known defects, unresolved repairs, water ingress, non-compliant works or overdue safety actions may lead to further questions.

Information to prepare may include:

• Recent building condition reports, defect reports or engineer reports.
• Details of major repairs completed or planned.
• Fire safety statements or inspection records where relevant.
• Reports relating to cladding, waterproofing, balconies, roofs or structural issues.
• Maintenance schedules for lifts, pumps, fire systems and other plant.
• Security, access control or risk reduction measures.

The purpose of providing this information is not necessarily to penalise the scheme. In many cases, it helps explain how the property is managed and whether known issues are being actively addressed.

Existing policy documents and renewal information

For a renewal review, existing policy documents are particularly important. They allow a broker or alternative insurer to understand the current cover, insured amounts, excesses, optional benefits and renewal terms.

Documents commonly requested include:

• Current policy schedule.
• Product disclosure statement and policy wording, if available.
• Renewal invitation or renewal notice.
• Current premium, excesses and insured values.
• Endorsements, exclusions or special conditions.
• Claims experience or claims report from the current insurer.

When comparing renewal options, avoid looking only at premium. Differences in insured values, excesses, exclusions, sub-limits and policy conditions can materially affect the value of the cover.

What changes should be flagged at renewal?

A renewal review is not just a repeat of last year's insurance. It is an opportunity to identify what has changed and whether the current policy details still reflect the scheme.

How to organise the information before requesting quotes

A practical approach is to create a central renewal file before the current policy expires. This can include the current policy schedule, claims history, valuation, recent building reports, minutes noting major works, and contact details for authorised representatives.

Before submitting a request, consider these steps:

1. Confirm who is authorised to act. Make sure the strata manager, committee member or body corporate representative has authority to request quotes and provide information.
2. Gather current policy documents. These are often the fastest way to establish existing insured values, excesses and coverage structure.
3. Check building and lot details. Confirm the number of lots, use of the property and any unusual shared facilities.
4. Update claims and maintenance records. Add context for recurring claims, completed repairs and risk improvements.
5. Identify unknowns early. If a valuation, claims report or defect update is missing, ask how critical it is to the quote process.
6. Allow enough time. More complex schemes may need additional underwriting review, especially where there are claims, defects, mixed-use occupancy or unusual construction features.

For schemes with complex occupancy, significant claims history or uncertainty about policy terms, it may be useful to speak with insurance specialists. The brokers page can help explain when broker support may be relevant.

Common mistakes to avoid

When preparing an owners corporation insurance quote or body corporate insurance quote, avoid these common issues:

• Using outdated insured values without review. Building costs and reinstatement requirements may change over time.
• Leaving out commercial or short-stay use. Occupancy can be an important underwriting factor.
• Ignoring known defects. Insurers may ask about unresolved issues, and incomplete disclosure can create problems later.
• Comparing quotes only by price. Excesses, exclusions, insured values and policy wording also matter.
• Submitting vague claims history. Clear claims information can reduce delays and unnecessary follow-up questions.
• Waiting until the last minute. Renewal pressure can limit the time available to clarify details or compare alternatives.

Questions to ask before accepting a quote or renewal

Once quote options are received, the committee should review more than the premium. Useful questions include:

• Are the insured values based on a current valuation or another method?
• What excesses apply to common claim types such as water damage, storm or liability?
• Are there exclusions, endorsements or special conditions that differ from the current policy?
• How are shared facilities, common contents and plant equipment treated?
• Are there conditions relating to defects, maintenance or risk improvements?
• What information should be updated before the next renewal?

Insurance terms, pricing and availability depend on the scheme's circumstances and provider criteria. Preparing complete information does not guarantee acceptance or a particular premium, but it can make the quote and renewal review process clearer, more efficient and easier for the committee to assess.

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