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Sure Insurance Boosts Strata Coverage to $20 Million

Enhanced Coverage Aims to Improve Affordability in Northern Queensland

Sure Insurance Boosts Strata Coverage to $20 Million?w=400

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Sure Insurance has announced a significant expansion of its residential strata insurance coverage, increasing the replacement value limit from $5 million to $20 million.
This strategic move is designed to address the affordability crisis and improve access to insurance for apartment complexes in Northern and Regional Queensland.

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.

Published:Tuesday, 6th Jan 2026
Author: Paige Estritori

Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.

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Knowledgebase
Subrogation:
The process by which an insurance company seeks to recover the amount paid to the policyholder from a third party responsible for the loss.

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