Fergusons Insurance Brokers

39B Davey St Frankston, Victoria
Phone: (613) 9783-3200

We have utilised the services of Fergusons Insurance for the past 8 years on a range of insurances for our Building Maintenance Company. They have forever been helpful both in advice and attentiveness to our specific needs. One of the most appreciated aspects of the way they go about business is that there has never once been a pushy sales pitch, just a simple straight forward approach to insurance. I have and will continue to refer others to their services.

- Daniel Broadbent
  Broad Services

  Emergency After Hours

  0409 411 235

Commercial Strata Title

Commercial Strata insurance (also known as owners corporation or body corporate insurance), covers common property (as defined on the title of the property) common contents, loss of rent and public liability in respect of the common areas.

The common property is normally covered against accidental loss or damage on a replacement (new for old) basis, up to the sum insured.

Some of the additional benefits found under a Commercial Strata policy, are as follows:

Voluntary Workers: covers a person who sustains bodily injury whilst voluntarily working on behalf of the owners corporation.

Fidelity Guarantee: provides protection generally up to $100,000 against the fraudulent misappropriation of the owners corporation funds or tangible property.

Office Bearers Legal Liability: provides protection for the owners corporation office bearers should they become legally liable to pay compensation for any wrongful act they make while carrying out the functions of their position.

Machinery Breakdown: provides protection against unforeseen damage to electrical, electronic mechanical machinery and plant. Lifts, elevators and escalators are covered if they are subject to a current comprehensive maintenance agreement.

Catastrophe: provides protection against the sudden escalation in rebuilding costs that generally occurs after a declared catastrophe.

Government Audit Costs: Covers professional costs in connection with an audit by state, territory or commonwealth department, statutory, agency or The Australian Taxation Office.

Lot Owners Fixtures & Improvements: provides cover for fixtures and structural improvements installed or upgraded by Lot Owners for their exclusive use against Accidental Loss or Damage, generally up to $250,000 a Lot.

As commercial strata insurance only covers common property and common area, it is important to remember that you must still insure your own business contents along with your own public liability as either the occupier of the property or as the unit property owner.