A simple review could save thousands — without compromising cover.

For many commercial and mixed-use strata properties, insurance is one of the largest annual expenses incurred by the Owners Corporation. Yet despite the size of this cost, many strata insurance programs remain unchanged for years without being independently tested against the broader market.

At Lambourne Partners Insurance, we’ve helped numerous strata schemes uncover significant premium savings while maintaining — and in many cases enhancing — the protection provided to owners.

Why Regular Insurance Reviews Matter

Insurance markets change continually. Premiums, policy wordings, insurer appetites and available cover can all shift from one year to the next.

An insurance program that was competitive three years ago may no longer represent the best value today.

An independent review allows your Owners Corporation to:

• Compare premiums across multiple insurers
• Review policy wordings, not just pricing
• Identify duplicated or unnecessary cover
• Benchmark sums insured and policy benefits
• Negotiate improved terms and excess structures
• Ensure the insurance program remains aligned with the needs of the property

The outcome is often improved protection, reduced costs — or both.

Insurance Is About More Than Price

While premium reductions attract attention, the cheapest policy is not always the best option.

We regularly identify opportunities to strengthen key areas of cover, including:

• Building sums insured
• Flood and catastrophe excesses
• Machinery Breakdown
• Office Bearers’ Liability
• Voluntary Workers cover
• Fidelity Guarantee
• Loss of Rent and Temporary Accommodation benefits
• Additional policy enhancements and extensions

A lower premium offers little benefit if critical protections have been reduced or overlooked.

Transparency Builds Better Decisions

The strata insurance industry has received increasing scrutiny in recent years regarding remuneration structures and commission arrangements.

Owners deserve to understand:

• Who is arranging their insurance
• How they are being remunerated
• Whether the policy has genuinely been tested against the wider market

At Lambourne Partners Insurance, we believe informed owners make better decisions.

As an independent broker, our role is to provide clear advice and objective recommendations based on the needs of your strata scheme — not the interests of any particular insurer.

We Work Directly With Strata Committees

Every strata scheme is different.

Some committees are primarily concerned with reducing annual costs. Others place greater importance on broad coverage, lower excesses, risk management or claims support.

That’s why we regularly attend strata committee meetings to better understand the objectives and priorities of owners.

Rather than applying a one-size-fits-all approach, we work collaboratively with committees to develop insurance solutions that reflect the unique needs of the property and its owners.

Why Owners Choose Lambourne Partners Insurance

Our clients choose us because we provide:

• Independent Market Reviews
  We source and compare alternatives from a broad range of insurers.
• Competitive Premiums
  We actively negotiate on behalf of the Owners Corporation.
• Detailed Policy Comparisons
  We compare cover, exclusions and policy benefits — not just premiums.
• Direct Access to Experienced Advice
  You’ll deal directly with an experienced insurance professional.
• Claims Advocacy
  When a claim occurs, we act as your advocate throughout the process.
• Ongoing Support
  Our advice doesn’t stop at renewal. We’re available throughout the year whenever issues arise.

Recent Client Outcomes

While every strata scheme is different, the results of an independent review can be significant.

Commercial Strata Scheme: 34% Premium Reduction

• Annual premium reduced by approximately 34%
• Owners Corporation saved around $8,000 per annum
• Policy excess successfully negotiated down from $5,000 to $2,500

Residential Strata Scheme: More Than $64,000 Saved

• Annual premium reduced by approximately 20%
• Savings exceeded $64,000
• Building sums insured were increased, enhancing the overall protection available to owners

These outcomes highlight the benefits of regularly testing your insurance arrangements against the market.

Is It Time for a Complimentary Strata Insurance Review?

If your strata insurance hasn’t been independently reviewed in recent years, there may be opportunities to reduce costs, improve coverage or both.

In many cases, all we need is a copy of your current policy schedule to undertake an initial assessment.

Our review will provide:

• An independent comparison of your existing insurance program
• Identification of any potential cost savings
• Analysis of policy wording differences
• Recommendations to improve protection where appropriate
• Clear, practical advice to support informed committee decisions

Take the First Step

Don’t wait until renewal time to discover whether your strata insurance is delivering real value.

Contact Lambourne Partners Insurance today for a complimentary, no-obligation strata insurance review and find out whether your Owners Corporation could benefit from a more competitive and comprehensive insurance solution.

Call us today
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Lambourne Partners Insurance
Independent advice. Competitive outcomes. Protection designed around your strata scheme.