Lower your Strata Title premiums

North Queensland Strata Title Inspection Program

Mitigation is frequently mentioned as a suitable way to reduce premiums in regional Queensland. Is it the government’s responsibility or the Body Corporates or a combination of both?

Lower your Strata Title premiums

North Queensland Strata Title Inspection Program

Mitigation is frequently mentioned as a suitable way to reduce premiums in regional Queensland. Is it the government’s responsibility or the Body Corporates or a combination of both?

The ACCC Norther Australia Insurance Inquiry ACCC report – Second update report 2019 stated: 

“the insurance industry should stand by individuals who invest in mitigation and recognise the reduction of risk with a reduction in premiums. Individuals would be more encouraged to undertake mitigation if there was a clearer link between mitigation and lower insurance premiums.”

This is at the heart of Sure Insurance, not only have we rewarded thousands of regional Queensland Homeowners with discounts for making their home more resilient, Sure Insurance is all about rewarding Proactive Body Corporates who invest in making their buildings more resilient.

We make the effort to risk rate your property based on your specific circumstances and those of your property. We’ll ask questions about your individual property, not just your postcode. For example, if you’ve done work on your building to protect against flood damage or cyclonic winds, we take that into account when we risk rate your property and adjust your premium accordingly. 

Sure recognises that each and every property is different. We analyse risk at a personal level at your address, so customers are treated individually, not just as part of a postcode zone, as that’s what being fair is all about. 

 

not just a postcode

Sure recognises that each and every property is different.

We analyse risk at a personal level at your address, so customers are treated individually, not just as part of a postcode zone, as that’s what being fair is all about. 

WE SUPPORT THE PROGRAM

This is why we support the North Queensland Strata Title Inspection Program (NQSTIP), a program that is funded by the Australian Federal Government, administered by the Queensland Government, and independently developed and implemented by James Cook University (JCU). 

FREE INSPECTION REPORT

The program offers a free inspection report and provides an estimate of the current resilience of your strata property to the effects of future tropical cyclones. It also provides recommendations, where appropriate, for maintenance, upgrades or changes. 

HOW WE LOWER YOUR STRATA PREMIUMS

START WITH A FREE REPORT

Sure Insurance then uses the report to reward Body Corporates who have invested in their properties resilience with lower premiums. And we are not talking peanuts, properties who score between High and Very high resilience have received premiums reductions of over 10% on average to date, resulting in hundreds and sometimes thousands of dollars saved. Not bad for a free report.

Inspections are offered free of cost for strata properties within 100 km of the coast, north of the southernmost boundary of the Rockhampton Regional council area, extending to the Queensland/Northern Territory border, and including islands off the Queensland coast. Properties within 50 km of the coast are in Wind Region C, and properties between 50 and 100 km of the coast are in Wind Region B, as shown in the Wind Region map of Queensland.

Participation in the program is voluntary. 

For more information about the North Queensland Strata Title Inspection Program visit: https://stp1.hpc.jcu.edu.au/#/

 

Make Your Property More Resilient

Even before your property is assessed, you can undertake measures to improve the resilience of your property from the effects of tropical cyclones

for example

Develop a cyclone preparation plan and ensure a copy is available in every unit.
Trim large trees.
Repair any elements that are showing signs of rust or rot.
Some tips are provided on the Queensland Government website
Clean out gutters regularly to ensure they are not blocked.
The Queensland Government website has valuable information on preparing your property for tropical cyclones: Get Ready Queensland
Fairness First

You’re in safe hands with Sure.

Sure Insurance is Queensland owned and operated. We have partnered with global insurer, Liberty Mutual Insurance Company (Liberty), who underwrite your policy. In Australia, Liberty is licensed and regulated by the Australian Prudential Regulation Authority (APRA) and meets all prudential requirements

All financial services in connection with your policy are provided by us, on behalf of Liberty, under our Australian Financial Services Licence (AFSL 506378). Contact us for more information.