u/Due_Giraffe_1079

Hi All,

Just trying to get a general gauge on insurance costs for similar-sized strata complexes.

Our complex consists of 9 modern brick veneer units, built approximately around 2010.

Last year our insurance premium was approximately $7,000, based on an insured value of around $5.5 million. We also had a previous claim on record, which should no longer be impacting this year’s renewal.

We have recently received an updated valuation of approximately $7 million and will now be renewing with no claims history.

Would be interested to hear what similar complexes are currently paying and what insured values they are carrying.

location : Bankstown Area NSW