BODY CORPORATE

Why Body Corporate Cover Matters?

The pressure is on Body Corporate customers to ensure that the unit owners’ best interests are met. In the event of a problem, customers need to know that the best possible insurance is in place and that their insurer responds quickly and efficiently. Body corporate and sectional title bodies have quite an onerous task: not only do they have to deal with the running of a complex, they must also provide protection for the assets of the people they represent as trustees. Our product is designed for sectional title residential property governed by the Sectional Title Act No. 95 of 1986, which includes:

Owners of sectional title units
Trustees of sectional title units
Managing agents of sectional title complexes and body corporates
Home owners’ associations
Property developers and development scheme Body corporates do not all require the same insurance, so to accommodate this, we provide customers with a range of business insurance options to create a customised policy that gives them exactly what they need.

Buildings and Common Property

Cover against physical loss or damage to buildings and common
property and contents of the Body Corporate including architectural
features and structures, burst and leaking geysers and swimming pools

Legal Liability

Cover for claims for compensation or expenses which the Body
Corporate becomes legally liable to pay in respect of personal injury or
property damage that occurs as a result of an occurrence in connection
with the ownership of the property

Trustees Indemnity

Cover for trustees against claims arising out of any actual or alleged
wrongful act(s) occurring in managing the affairs of the Body Corporate

Fidelity Guarantee

Automatic cover of R50,000 provided with buy up options available to
increase this cover in accordance with the requirements of Sectional
Titles Schemes Management Act, 2011 (Act No. 8 of 2011) which came
into effect on 7 October 2016

Public Supply Connections

Cover for accidental damage to sewerage systems, electricity, water,
gas and telecommunication connections on the Sectional Title property

Loss of Rent

Loss of rent receivable from property as a result of damage to property
rendered uninhabitable including owners alternative accommodation,
prevention of access and failure of supply of services by public utility