Understanding the synergy: strata and condo insurance explained

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Navigating the ins and outs of insurance can seem like a maze, but when it comes to protecting your home and investment, clarity is key. For condo residents and strata owners, this clarity comes from understanding how strata policies and condo insurance policies coexist and complement each other to offer well-rounded protection. At Westland Insurance, we’re here to shine a light on the nuances and help bring peace of mind to your living space. 


The dynamic duo of coverage

Imagine your condo building as a jigsaw puzzle. Each piece represents the individual units, and the completed puzzle represents the entire building, including common spaces like the gym and garden. Strata insurance is the protection for the overall puzzle, while condo insurance protects your individual piece within it. 

Strata insurance is the safety net for the building’s structure and shared spaces. It covers incidences that affect the entire complex like roof damage from a storm or liability claims if someone has an accident in the communal stairwell. Think of strata insurance as a shield for the broader aspects of your living environment, safeguarding against unforeseen events that impact everyone in the condo community. Your condo corporation will have a strata insurance policy in place to protect the building and common elements. 

On the other hand, condo insurance is all about what’s behind your front door. It’s your personal protection, covering what belongs solely to you: your furniture, electronics, and the personal touches that make your space yours. It can also assist with costs related to improvements you’ve made to your unit and provide support if you face unexpected additional living expenses. Unit owners are responsible for having their own condo insurance policy. 


Complete coverage with strata insurance and condo insurance

Having both strata and condo insurance means there’s no gap when it comes to safeguarding your space. It’s crucial because if a mishap does happen, there might be gray areas about what’s covered by the strata’s policy versus what you’re responsible for. 

That’s where Westland Insurance steps in. Our expertise lies in understanding the specific needs of condo and strata communities. Tailoring coverage to these needs, we ensure that both your individual treasures and shared gems are shielded against the unexpected. 


Westland’s one-stop-shop advantage

By working with a company that specializes in both types of insurance, you can rest assured we have the knowledge and experience to provide the guidance you need to ensure you have the right coverage. By offering both strata and condo insurance, we ensure complete, cohesive, and convenient coverage for individuals and state communities — so you can have peace of mind, knowing every corner of your home, both shared and personal, is looked after. 

For more information or to get started with a personalized condo insurance quote, connect with us today. We’re here to lend a hand, from explaining condo insurance coverage in straightforward terms, to addressing any questions or concerns you may have, and ensuring that as part of the strata collective, you’re always in the loop and adequately protected.  

Ready to streamline your condo’s protective plan? Click below to get started. 

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