Should we shop around for strata insurance every year?
Yes. The strata insurance market changes significantly year to year. A good broker will quote 3–5 underwriters at every renewal. Locking in the same insurer year after year without testing the market almost always costs the scheme money.
Watch for brokers who consistently bring back only one quote, or who add bundled fees. The owners corporation can change brokers at any time — broking commissions are negotiable and should be disclosed. The strata manager often coordinates this on your behalf, but the choice belongs to the committee.
By Reviewed by Last reviewed 2026-05-04
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