Zurich Strata Insurance

Information verified correct on October 26th, 2016

Why Choose Zurich Insurance?

Zurich Insurance is a respected name in the risk management industry around the world. Operating in Australian since 1961, Zurich employs over 1,000 people around the country.

Zurich Insurance is a signatory to the General Insurance Code of Practice, which means the company abides by the objectives to promote informed relationships with their clients, generate customer confidence, provide better dispute resolution and handling, and commit to higher standards of customer service.

Zurich Insurance offers a comprehensive range of products to protect your family, your assets and your business.

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If you are ready to speak with a consultant about different business insurance options available, simply enter your details in the form. Keep reading if you want to learn more about the different types of cover available.

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The importance of having business insurance

Business insurance is an important investment regardless your industry, size or turnover. Zurich offers insurance products that protect your business’s physical assets, your stock and products, and your customers’ safety.

Having the wrong type of business insurance or being underinsured is as dangerous as having no insurance at all, which is why it is important to work with a qualified professional who will assess your business, specifically identify your risks, and tailor insurance to your needs.

What Are Your Business’s Insurance Need?

Insurance needs vary from company to company and may include:

  • Worker’s compensation insurance. All businesses (other than sole traders) need worker’s compensation insurance.
  • Vehicle insurance. All vehicles operated as part of your business are required to be covered by third party insurance.
  • Product liability insurance. If your business sells a product, product liability insurance is useful for protecting your business against claims that arise from harm, loss or damage to customers using your products.
  • Professional indemnity insurance. If you offer professional services or advice, professional indemnity insurance can protect you against claims that arise from negligence, mistakes or omissions made by you.
  • Stock and property insurance. Insurance policies for fire, burglary, glass breakage, electronic failure and other loss can help you avoid damaging and costly interruptions to your business operations.
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Zurich Strata Insurance Benefits and Features

Zurich Insurance specialises in strata insurance for large blocks of residential units. Zurich offers strata insurance from $4 million to $50 million.

Zurich Strata Insurance includes cover for:

  • Building and common contents. Protects against the loss or damage to the insured building and common contents.You may also be covered for additional benefits such as loss of land value, repair of damaged electrical motors, government approval fees, legal fees and any damage caused by emergency services.
  • Removal of debris, demolition and dismantling. You are covered for the costs of removing debris, fallen trees and for the demolition and dismantling of a property, the shoring up or underpinning, and other temporary repairs in addition to the buildings and common contents cover.
  • Legal liability. Covers you for the cost of claims of compensation or expenses for which you are legally liable as the result of personal injury or property damage in connection with the property.
  • Fidelity guarantee. Provides cover in the event that body corporate group funds are lost through theft, embezzlement, misappropriation, conversion or fraud.
  • Personal accident cover for voluntary workers. Anyone working on your property in a volunteer capacity is covered in the event of accident or injury. A benefit can also be claimed in the event of death, partial disability, or total and permanent disability.
  • Breakdown of machinery. Covers you for the costs associated with machinery breakdown at your property.
  • Environmental upgrade cover. Zurich Insurance includes extensive cover to allow for your property to comply with green building standards. For example, flushing contaminated air, debris recycling, green design and green certification fees.
  • Temporary and accommodation costs. If your property becomes uninhabitable, your property insurance covers temporary costs and accommodation expenses.

You are also able to extend your insurance cover by adding the following benefits:

  • Catastrophe cover. When you add catastrophe cover to your policy, the building and common contents insurance amount and cover for additional benefits is increased by 30%.
  • Legal liability. Covers the costs of legal defence, coronial inquests costs and court attendance fees up to $250 per day.

Find out More About Zurich Business Insurance

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Zurich Strata Insurance General Exclusions

Zurich Strata Insurance does not cover losses arising from:

  • an intentional act
  • the lawful confiscation, seizure or requisition of the property
  • war, revolution, insurrection, military coup
  • the use of nuclear material or weapons, or ionising radiation from nuclear waste or contamination from radioactive material
  • any act relating to or in the prevention of an act of terrorism.
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How to Make a Claim for Zurich Strata Insurance

Insurance is a product that you buy hoping that you never need it. However, if the worst does happen and you need to make a claim on your Zurich Business Insurance, you benefit from the experience and careful management of your claim that comes from decades in the Australian insurance industry.

The Zurich claims department is run by staff located in Australia, to make the process as fast and easy as possible. To make a claim you simply need to:

  1. In the event of an accident, injury or event which may lead to a claim, make sure you take every precaution to prevent further damage or loss.
  2. Notify the policy immediately to report lost, damaged or stolen property.
  3. Complete the appropriate claim form which you can find on the Zurich website for easy access or you can call the claims department directly.
  4. Include all information required by Zurich to investigate, settle or defend your insurance claim.
  5. Do not replace any property associated with the claim, without the approval of your insurer.
  6. Do not admit liability in the event of an accident which may result in a claim against you, without the approval of your insurer.
  7. Return the completed form to Zurich via mail, email or fax.

Any event that requires you to make a claim on your business insurance will be stressful in every aspect of your life. Therefore, Zurich Insurance focuses on offering attentive service when you need it most.

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