5 items that strata insurance covers One of the benefits of being in a strata community is enjoying the benefits of a bulk buy of strata insurance cover. It means that each and every lot or unit property, including common property purchases strata insurance cover so that their investment is protected. You will notice that I used the word “bulk buy” of strata insurance. “Bulk buy” refers to the owners, who are also members of the strata community to jointly purchase strata insurance cover. By jointly buying strata insurance, through a specialist strata insurance provider, your strata community will be able to get the appropriate cover that suits your community’s needs. Here are the 5 items that strata insurance covers- 1. Building replacement and or reinstatement cover – in the event that your building needs to be repaired or replaced, if it e ...