Strata Insurance Valuation Australia
Strata insurance valuations for body corporates and owners corporations. Determine replacement cost for adequate building insurance cover. RICS-certified.
About This Purpose
What Is Strata Insurance Valuation?
Under strata schemes management legislation in every Australian state and territory, all strata properties must maintain adequate building insurance to cover the full replacement cost of the building. A strata insurance valuation determines the replacement cost — not the market value — of the building to ensure the sum insured is sufficient to rebuild the property in the event of total loss from fire, storm, flood, or other insured events.
Underinsurance is one of the most significant risks facing strata schemes. If the sum insured is too low, the insurer may apply the principle of average and only pay a proportion of any claim, leaving the owners corporation and individual lot owners to fund the shortfall. Many strata schemes rely on outdated valuations or rough estimates that fail to account for rising construction costs, council requirements, demolition expenses, and professional fees.
Landmark Valuations assesses current construction costs, professional fees (architect, engineer, project management), demolition and site clearance costs, council compliance costs, and statutory charges to calculate the full replacement value. Our RICS-certified reports comply with the relevant state strata legislation — including the Strata Schemes Management Act 2015 (NSW), the Owners Corporations Act 2006 (VIC), and equivalent legislation in other states — and are accepted by all major insurance providers.
Our Promise
Why Landmark Valuations.
Accepted where it matters
Reports accepted by all major Australian lenders, the Family Court of Australia, state revenue offices, the ATO, and the regulatory bodies relevant to each purpose.
Tailored to the evidentiary standard
Court-admissible, audit-ready, ATO-defensible, institutional-grade — the report is structured around what your specific purpose actually demands, not a generic template.
Built to withstand challenge
Signed by a Chartered Valuation Surveyor, with the methodology, comparable evidence, and reasoning documented in full. Every value conclusion is built to defend under scrutiny.
Next Steps
What happens after the valuation?
The owners corporation uses the replacement-cost figure to set the building's sum insured at the level required by the relevant state strata legislation. A current, RICS-certified valuation gives the committee defensible evidence that the cover meets its statutory duty and protects every lot owner from a shortfall if the average clause is applied.
State legislation and insurer guidelines generally expect the valuation to be refreshed every three to five years, or sooner after significant building works. Scheduling the review ahead of policy renewal lets the committee adjust the sum insured before the cover is bound.
Compliance
RICS Red Book Compliant.
Every valuation we produce adheres to the Royal Institution of Chartered Surveyors (RICS) Red Book Global Standards 2025 and the International Valuation Standards (IVS). Your report is recognised by banks, courts, the Australian Taxation Office, and regulatory bodies worldwide. RICS regulation brings rigorous quality assurance, professional indemnity insurance, and a complaints handling process that protects your interests at every stage.
Request a Valuation
Tell us about your property.
FAQ
Frequently Asked Questions
Explore more
Related purposes.
Coverage
Every state, every territory.
RICS-regulated valuations from Sydney to Hobart, Darwin to Perth, and every postcode in between.
