Sure Insurance Boosts Strata Coverage to $20 Million

Bradley Heath, Managing Director of Sure Insurance, highlighted the challenges faced by body corporates and lot owners in these regions, noting that the reduction in competition due to some insurers exiting the market has led to increased premiums and difficulties in obtaining adequate coverage.

By raising the coverage limit, Sure Insurance aims to offer more competitive premium options and provide a viable alternative for body corporates seeking comprehensive insurance solutions. The company also plans to reward well-managed properties that have implemented resilience measures with reduced premiums, encouraging proactive risk management among strata communities.

This expansion is expected to enhance the availability of affordable strata insurance in Northern and Regional Queensland, offering property owners greater peace of mind and financial security.