Strata and non-strata insurance fundamentally differ in terms of the properties they cover. Strata insurance primarily covers buildings subdivided into units, apartments or townhouses with multiple owners, and common property areas governed by strata management or a corporate body. This kind of insurance typically includes coverage for damages to the building and commonly shared areas like gardens, lifts, and pools. 

On the other hand, non-strata insurance covers blocks of units owned by a single entity with no strata title, strata manager or body corporate.

This type of insurance handles risks of buildings where the landlord is solely responsible for the legal liability of the entire block. It covers the building, property owner’s liability, and loss of rent. The unique aspect of non-strata insurance is that it suits the needs of single-owner blocks not covered by other specific insurance products.