Strata Insurance Affordability Holds Steady Despite Rising House Insurance Costs

CHU attributes the relative stability of strata insurance premiums to the distinct circumstances faced by apartment owners compared to those owning standalone houses. Factors such as shared building structures and collective maintenance responsibilities contribute to this difference.

For strata property owners, this stability offers a degree of financial predictability in an otherwise volatile insurance market. It underscores the importance of understanding the unique dynamics of strata insurance and how they differ from other property insurance types.

For a comprehensive analysis of premium movements and the factors influencing them, refer to CHU's full report.