Residential Strata Plan

Tailor a residential strata insurance package to suit you

WFI Residential Strata Plan consists of seven different policies covering a range of risks. This approach gives you great flexibility as you can arrange your insurance to meet your particular requirements. It also means that if your circumstances change and you need more extensive insurance, it is easy for you to add another of the policies to your plan.

• Building and Common Contents

  Building and Common Contents

  As well as insurance for accidental damage, burglary and theft for both building and common contents, our policy includes a number of additional benefits which are in addition to the sum insured for the building.

  • Up to $20,000 for costs of demolition, removal of debris & temporary repairs.
  • Up to $1,000 for repair or replacement of an electric motor forming part of the Building or Common Contents which has been burnt out by an electric current (subject to kw rating & age limits)
  • Up to $5,000 for costs incurred in investigating the cause of damage due to the escape of liquid from a fixed system
  • Up to $10,000 for pre-approved architect, surveyor and other professional fees incurred as a result of damage to the building
  • Up to $5,000 towards adding environmental features when replacing, reinstating or repairing a total loss of the building
  • Up to $5,000 for various types of accidental damage to landscaping that occurs on the common property
  • Up to $500 toward the cost of a unit owner boarding a domestic pet whilst their damaged unit remains uninhabitable
  • Up to $5,000 for burglary or theft of common contents normally kept in an open air area at the Strata land secured by a gate, wall or fence.
  • Up to $5,000 toward costs incurred for either the replacement of keys and locks or the recoding of an alarm system following payment of a burglary or theft claim
  • Up to $5,000 for temporary shuttering or emergency measures  necessary to secure the building or common contents
  • Up to $2,000 towards the costs of removal and storage of common contents or Unit owners contents while the building is uninhabitable

  In addition to the above, WFI Building and Common Contents policy also insures you for a combined total of up to $50,000 in any one period of insurance for a unit owner's loss of rental income from a tenant and/or the use of temporary or emergency premises when a unit becomes uninhabitable or inaccessible as a direct result of damage to the building.

  The sum insured for the building also includes compensation for reduced floor space and the extra costs incurred to comply with the requirements of a government or statutory authority when rebuilding.

  For full details, please refer to the Product Disclosure Statement

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• Machinery Breakdown

  Machinery Breakdown

  WFI Residential Strata Plan provides cover for the breakdown of machines and explosion or collapse of boilers, economisers or pressure vessels that you choose to insure. We will pay the lesser of the reasonable cost of repairs to the equipment or what it will cost to buy a new item of a similar make and model. In some circumstances we also pay for the cost to hire a temporary replacement electric motor and air and freight charges incurred due to the damage.

  For full details, please refer to the Product Disclosure Statement

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• Electronic Equipment

  Electronic Equipment

  We offer two different types of cover:

  Accidental damage to or theft of electronic equipment
  Loss or damage to electronic data processing media and information

   

  Under this policy we will pay the lesser of the reasonable costs of repairs, the replacement value or the sum insured if accidental damage or theft occurs to electronic equipment that you choose to insure. We will pay the reasonable cost of replacing data processing media and restoring information. In some circumstances we will also pay any extra charges incurred for overtime and work on public holidays to replace the lost or damaged media.

  For full details, please refer to the Product Disclosure Statement

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• Voluntary Workers Accident Only

  Voluntary Workers Accident Only

  The Voluntary Workers Accident only policy insures voluntary workers against bodily injury, inability to work or death as a result of an accident which occurs while they are undertaking voluntary work for the strata company.

  For full details, please refer to the Product Disclosure Statement

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• Fidelity Guarantee

  Fidelity Guarantee

  WFI Residential Strata Plan includes a Fidelity Guarantee policy. This insures you against loss of contents or money directly caused by a fraud committed by a strata council member or an employee.

  For full details, please refer to the Product Disclosure Statement

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• Legal Liability

  Legal Liability

  This policy protects you against your legal liability to pay compensation for personal injury or damage to property directly caused by an occurrence which happens in Australia in connection with the business as a Strata Company.

  We also pay up to $250,000 for goods in your care custody and control or the amount shown on your Certificate of Insurance.

  For full details, please refer to the Product Disclosure Statement

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• Strata Council Members Legal Liability

  Strata Council Members Legal Liability

  This policy insures your strata council members and/or the Strata Company for civil liabilities which they may incur in their capacity as a strata council member and/or the Strata Company.

  For full details, please refer to the Product Disclosure Statement

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