Strata Insurance

Benefits and features of Strata Insurance

• Strata Insurance provides cover against accidental loss or damage on a replacement (new for old) basis up to the sum insured.
• The term ‘accidental loss or damage’ includes, but is not limited to, events or happenings such as: fire, lightning, explosion, storm, water, earthquake etc.

Additional benefits include:

• Cost of architects and professional fees involved in repair or replacement.
• Cost of fees or imposts imposed by a Statutory Authority for consent to rebuild.
• Cost of legal fees incurred in making submissions to Statutory Authorities following loss or damage.
• Cost of temporary protection for safety of insured property and persons.

Some special benefits of Strata Insurance:

• Loss of rent
• Cost of reletting
• Excess electricity, gas and water charges levied following damage by an insured event
• Exploratory costs in locating the source of burst pipes
• Cost of replacing defective parts
• Cost of removing fallen trees that have caused damage to insured property
• Fire extinguishing costs
• Cost of re-keying or recoding locks following forcible entry into a lot/unit or building
• Cost of replacing landscaping damaged by an insured event
• And many more…