Strata insurance providers - is there comparison website?

yjun355 on 06/01/2023 - 08:10

I was wondering if anyone has suggestion of strata insurance providers?

I have semi and need to renew the insurance.

Are there any comparison website or somewhere with list of providers to specialise for emi strata..

Financial

Comments

  • bemybubble on 06/01/2023 - 08:18

    You talking about body corporate yea?

    As far as I am aware you've only got 2 choices. CHU and another one I can't remember.

    • yjun355 on 06/01/2023 - 08:22

      Yeah technically it is body corporate. It's a semi-detached with unit 1 and unit 2. But we self manage it. Stop doesn't go through any state manager or anything.

      • bemybubble on 06/01/2023 - 08:23

        I suggest reaching out to a broker. Like I mentioned there are only 2 in your case that manage body corp stuff.

        They will advise what's best. Will also be a stronger worded policy to cover more.

        • yjun355 on 06/01/2023 - 08:24

          Thanks. I'll search for strata insurance brokers as well.

  • ode1online on 06/01/2023 - 08:40
    +1

    I am in a managed unit of 4. I am detached from the others, I reached out for other insurers as the insurance the brokers recommended just got dearer by $600 each year and we had less choice each year as well as we lost coverage like FLOODING. I eventually went with GIO Strata insurance, I took with me the quotes we had from the broker, and we saved about $800 for that year, plus, we got the flooding back. Strata management had no issues with my choice, and we also saved on the brokers kickbacks. Definitely worth shopping around.

    • yjun355 on 06/01/2023 - 09:49

      Thanks. I'll try GIO strata insurance. Were there any other insurers that stood out as well?

      Also this is all online or you had to speak to someone at GIO?

      • ode1online on 06/01/2023 - 14:07

        I went into our local GIO, I called first and they said come on in, I brought the quotes form CHU etc. I just gave them the figures and they popped out a quote.

    • AngoraFish on 06/01/2023 - 12:41

      Most people have lost coverage for flooding, mainly because the standard definition has now been tightened up to refer only to water that has escaped from a river or watercourse. Unless you are in a low lying area you don't need it, and if you are you probably can't afford it. In your case, I suspect that GIO realised that you had no use for that kind of coverage and had a largely useless clause added back in to keep you happy.

  • payless69 on 06/01/2023 - 09:46
    +1

    If Perpetual owns the body corp they will force you to take the one they get the biggest kick back.

    • yjun355 on 06/01/2023 - 09:50

      Didn't understand content about perpetual.

      • payless69 on 06/01/2023 - 10:29
        +1

        If you buy a unit who uses them you will find out!

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