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Everyday Insurance Standard is a sum-insured contents policy for strata owners, according to CHOICE. Its listed benefits include legal liability cover and optional protection for portable items, motor burnout and spoiled food—but exclusions, sublimits and the division of responsibility between you and your owners corporation matter. The available CHOICE page does not show its rating or price, so assess the current policy documents and quote before deciding.
What this policy is—and what it is not
This is personal contents insurance, not a replacement for the building or common-property insurance that an owners corporation may arrange. CHOICE describes Everyday Insurance Standard as a white-label Hollard policy, underwritten by The Hollard Insurance Company Pty Ltd, and says its cover is identical to policies sold by Australian Seniors and Real Insurance. That description is CHOICE’s; it does not establish that the products have identical prices or service. CHOICE’s Everyday Insurance Standard review
Responsibility for fixtures and improvements can depend on what the body corporate insures. CHOICE says permanent fixtures are covered by this policy only when they are not insurable by the body corporate. Check the policy wording and ask the owners corporation or strata manager which party is responsible for each item before setting your contents sum insured.
Owners corporation insurance rules vary by state and territory. For example, Consumer Affairs Victoria explains requirements relevant to Victorian owners corporations; its guidance should not be treated as a statement of the law elsewhere. Consumer Affairs Victoria: owners corporation insurance
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What cover and limits does CHOICE list?
The figures below are limits described on CHOICE’s review page, not a confirmation that a particular loss will be paid. Check the current Product Disclosure Statement (PDS), policy schedule, exclusions and conditions for the terms that apply to your quote.
| Cover area | What CHOICE’s review page lists | What to verify |
|---|---|---|
| Contents | A nominated sum insured. | How to value your belongings and whether the amount is enough to replace them. |
| Legal liability | Up to $20 million for people named on the policy and their family members living with them, for incidents in Australia. | Who qualifies as an insured person, the circumstances covered and applicable exclusions. |
| Unlisted portable contents (optional) | A selectable overall limit from $2,500 to $5,000, with a $1,000 per-item limit. | Eligibility, covered locations, item definitions, excess and whether valuables need to be listed separately. |
| Motor burnout (optional) | Up to $1,000, subject to the stated conditions. | Which appliances and causes qualify, and whether the limit is per item or per claim under the current wording. |
| Spoiled food (optional) | Up to $500, subject to the stated conditions. | What event must cause the food to spoil and how the claim limit is applied. |
CHOICE also describes settlement options as repair, replacement or payment of replacement value, with sums insured and sublimits applying. The review summary does not establish which option applies to a specific claim or how depreciation, matching items or repair standards are handled. Check the policy’s claims and settlement wording.
Where theft cover may not apply
The review lists theft cover subject to exclusions. Its visible examples include theft by residents, some theft from common or public areas or unenclosed parking at multi-residency sites, and theft connected with a business, profession or occupation. A broad statement that theft is covered is not enough to determine whether a particular location or loss qualifies.
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- Check whether the item was inside your insured home, in a shared area, or in an unenclosed parking space.
- Read the wording for losses involving a person who lives at the property.
- Confirm whether an item used for work or business is excluded or treated differently.
What if the home will be empty?
CHOICE’s summary says approval is required if the home will be unoccupied for more than 60 days. It also lists steps such as keeping the garden tidy, stopping regular mail or newspaper delivery, and arranging weekly checks. Treat these as review-page guidance, not a substitute for the current policy conditions: ask the insurer what counts as unoccupied, how to obtain approval and what evidence of checks it requires before leaving.
How to assess the policy before buying
- Separate building and contents responsibilities. Ask the owners corporation which building fixtures, improvements and common property it insures. Check whether any fixtures you expect this policy to cover are not insurable by the body corporate.
- Set a realistic contents sum insured. Make an inventory and estimate the cost of replacing the belongings you would insure. Confirm how the policy defines contents and replacement value.
- Read the exclusions against your living arrangements. Pay particular attention to theft involving residents, shared spaces and business use, and the conditions for an extended absence.
- Evaluate optional benefits by item and event. Consider whether the portable-contents limits fit your belongings, and whether the motor-burnout or spoiled-food conditions address risks you want covered.
- Compare the current quote and full terms. Review the premium, excesses, limits, settlement basis and conditions alongside other policies. The accessible CHOICE page does not disclose its expert rating, price, pros, cons or full evaluation, so it cannot support a value-for-money verdict or a claim that this policy is superior.
What strata owners should know about strata insurance rules
Owners corporation building and common-property placements are distinct from this personal contents policy. ASIC describes a streamlined PDS process for certain residential strata placements involving multiple insurers: the lead insurer prepares the PDS, while a supplementary PDS identifies other insurers’ participation and risk shares. ASIC also says whether an owners corporation is a retail or wholesale client must be determined case by case. These rules concern owners-corporation placements and are not a finding about Everyday Insurance Standard. ASIC: streamlined product disclosure for residential strata insurance
Availability and affordability concerns affect some strata properties in northern Australia, with factors including location, size, age and construction materials. The ACCC says its insurance monitoring role concluded on 30 June 2026 and that insurance is mainly regulated by ASIC and APRA. This is market context, not evidence of this policy’s availability or price for a particular property. ACCC: insurance monitoring reports
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AFCA lists residential strata among the classes covered by the General Insurance Code of Practice and describes residential strata title insurance as cover for an owners corporation. Its page says the latest version of the Code is effective from 1 July 2021. AFCA: insurance
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If you have a complaint, first contact the insurer and follow its internal complaints process. ASIC’s consumer guidance points consumers who remain unhappy after contacting an insurer toward the Australian Financial Complaints Authority (AFCA). ASIC Moneysmart: complaining about insurance
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