Body corporate insurance quotes from NZ insurers who actually write strata risk — NZI, QBE, AIG, Zurich, Delta, Dual.

Yes. Under the Unit Titles Act 2010, every body corporate in New Zealand must maintain insurance covering the full replacement value of the building and common areas. The premium is funded through your body corporate levy, and the policy is usually arranged by the body corporate committee or its broker. Individual unit owners still need their own contents and (if applicable) landlord insurance — body corporate cover stops at the structure and common property.

They're the same product under different labels. New Zealand and Queensland use "body corporate"; New South Wales, Victoria and most of the rest of Australia use "strata". The cover is structurally identical: building replacement, common-area public liability, office bearers (committee) liability, and the private-insurer share of natural-hazard claims. On a NZ unit-titled building it will always be called body corporate insurance — the NHC scheme sits underneath the private cover.

In New Zealand, body corporate / strata policies normally include: full reinstatement of the building and common areas, public liability for incidents on common property, office bearers' (committee) liability, fidelity (theft by an employee), loss of rent, and the private-insurer layer of natural-hazard cover sitting above the NHC cap (NZ$345,000 + GST per dwelling). Personal contents, fitouts and landlord cover sit on individual owner policies, not on the body corporate.

Body corporate fees fund the building's operating costs: the insurance premium (typically the largest single line item), long-term maintenance fund contributions, repairs and grounds, body corporate management fees, audit and AGM administration, and any committee-approved capital works. The Unit Titles Act 2010 requires a Long-Term Maintenance Plan, so a portion of your levy is set aside for future works regardless of current need.

There's no national average — fees vary materially by building. The main drivers are: number of units (more units lowers the per-unit share), age and construction type, location (Wellington and Christchurch carry earthquake loadings), amenities such as lifts and pools, and the size of the long-term maintenance fund. Insurance premium often accounts for 40–60% of the levy on older or seismically-exposed buildings. Ask your body corporate manager for the current operating budget and long-term plan before estimating your share.

Two things worth being honest about. First, brokers are paid by commission from the placing insurer — so transparent disclosure matters. Our commission rates are published in the FCIB Disclosure Statement. Second, no broker holds an agency with every insurer — we quote NZI, QBE, AIG, Zurich, Delta and Dual, which covers the active NZ body corporate market. If a specific insurer matters to you (for example if you're currently with Vero direct), tell us up front and we'll flag whether we can quote them.