contents, or common property, either in self-managed
complex or managed by owner’s corporation.
Do I need home and contents insurance if I already have strata insurance?
Yes. The strata insurance will not cover you for any loss or damage to your own building or contents. Should a peril happen in your own building or theft to your own content, you cannot claim this under Strata Insurance. That event will be covered under your home and content insurance.
Is strata insurance same with landlord insurance?
No. The strata insurance is generally for property owned by multiple owners or landlords. It will only cover the shared and common areas of the whole property, but not to the property owned by each individual owner or landlord. All owners or landlords will be responsible for strata insurance and their own building insurance.