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GIO Top Strata Residential Insurance provides cover for residential buildings (home units, villas or town houses) which are registered under strata or unit title legislation. You can insure the strata, group, body corporate or community titled residential building, or both the building and its common contents. You are covered for accidental loss or damage to the building (including common areas), and accidental loss or damage to your Common Contents (if you choose this cover) GIO Insurance is available in NSW, ACT, VIC, WA & NT. For full details about our Top Strata Residential Insurance, please refer to our Top Strata Residential Insurance Product Disclosure Statement (PDF, 917KB). |
Key features of GIO Top Strata Residential Insurance
| Feature | Description |
|---|---|
| Emergency repairs | We will cover the cost of having to do emergency repairs to your Building and Common Contents if an insured incident causes loss or damage. The most we will pay for emergency repairs is $1,000. |
| Exploration costs to find the source of leaks from pipes and water containers | We will cover the reasonable cost of searching for the unknown source of leaks in pipes and water containers but only if the leaking liquid is causing permanent damage to your building or Common Contents |
| Legal liability | You are covered for up to $10 million. |
| Motor Burnout | We will cover the costs of repairing or replacing burnt out or fused electric motors which are part of your Building or Common Contents (exclusions apply). |
| Embezzlement of funds | Fraudulent embezzlement or theft of your funds by office bearers or your employees (limits apply) |
| Removal of debris and extra rebuilding costs | When your Building is damaged by an insured event, we will pay the reasonable and necessary costs to remove debris, demolish the damaged parts, and secure your Building. We will also store Common Contents while your building is being repaired, and dispose of damaged Common Contents. |
| Temporary accommodation | You will be covered for temporary accommodation and loss of lot owners rent if a lot in the building becomes unfit to live in because of loss or damage by an insured event |
| Lawns, garden areas, trees, shrubs and plants on common areas | You will be covered up to $500 for theft, accidental loss or damage. |
| Replacement of locks | If keys or key codes are stolen, we will pay up to $1000 to replace them. |
| Voluntary workers cover | We will cover voluntary workers for injury or death for agreed work that they are performing on the property. |
| Legal liability cover | When you insure your Building under your policy, you will be covered for up to $10 million. |
| Automatic Adjustments to the sum insured | We will adjust your sum insured to allow for increases in building costs, and increases in replacement costs for your common areas. |
| Choose to make one annual payment, or to pay by the month |
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Optional Covers
Tailor your Top Strata Insurance to meet your needs with a choice from these Optional Covers. Each optional cover requires an extra premium.
| Cover | Description |
|---|---|
| Flood damage (only available in certain circumstances) | We will pay for damage to your Building and Common Contents. If you want this option please contact us to see if it is available. |
| Office Bearer's liability | We will cover office bearers for claims made against them. |
Discounts and ways to save on your policy
- If you have Top Strata Residential Insurance, you can save 15% off your GIO Contents Insurance.
Next Steps - Top strata residential insurance
- Call us on 13 10 10 for an instant quote and further information
- Read the Top Strata Residential Insurance Product Disclosure Statement (PDF, 917KB) for detailed information on this cover.
- Visit a GIO branch
Top Strata Residential Insurance Product Disclosure Statement
Top Strata Residential Insurance is issued by GIO General Limited ABN 22 002 861 583. Please read the Product Disclosure Statement (PDF, 917KB) before you make any decision regarding this product.
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Queensland, South Australian and Tasmanian residents
GIO provides insurance in NSW, ACT, VIC, WA & NT. GIO does not currently provide insurance in Queensland, South Australia and Tasmania.
- In Queensland you can apply for insurance cover with Suncorp Metway Insurance Limited (Suncorp) (GIO's parent company).
- In South Australia you can apply for cover with RAA Insurance Limited (RAA) (a joint venture between RAA and Suncorp).
- In Tasmania you can apply for cover with RACT Insurance.