How do we manage our certificate of currency and insurance records?

A certificate of currency is one of the most commonly requested strata documents — owners, prospective purchasers' conveyancers, and lenders all ask for it, often with little notice.

What's typically tracked

• The insurer, policy number and cover type (building, public liability, and any others held)
• The renewal date, so the committee isn't caught out at the last minute
• The certificate of currency document itself, stored where it can be quickly located and shared

Why renewal timing matters

Lapsed building insurance is a serious exposure for any strata scheme — beyond the practical risk of an uninsured event, most states require the scheme to maintain certain insurance, and a lapse can itself be a compliance failure. Tracking the renewal date alongside a reminder gives the committee time to review the policy properly rather than renewing in a rush the day cover expires.

Requests for the certificate

Because the certificate of currency lives in the documents library, it can be shared quickly when someone asks for it — a common request from owners selling their lot, or from a prospective buyer's conveyancer during due diligence.

What Flex Strata doesn't do

Flex Strata records insurance details and stores the certificate; it doesn't manage the premium payment, process claims, or replace advice from a broker about adequate sums insured. For a matter as consequential as adequate building insurance valuation and cover, that's worth reviewing periodically with a broker experienced in strata insurance, not left to a generic renewal reminder.

Building details link

Insurance sits within the broader building details record alongside lots and other core building information, giving a single place to see the building's key facts rather than scattering them across separate documents and spreadsheets.