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things you must know about Body Corporate Insurance

Who needs Body Corporate Insurance?

It is essential for trustees of a body corporate to take out adequate Sectional Title Insurance also known as Body Corporate Insurance. A sectional title owner is not obligated to purchase insurance as it is up to the body corporate to ensure that the association is insured. 

This insurance should cover buildings and common property for the replacement of each owners section. A body corporate shouldn't expect an owner to pay the insurance excess on a claim that is made under the Body Coporate Insurance policy. Owners are expected to obtain personal insurance on top of the body corporate’s insurance to cover claims resulting from their own negligence.  

Why should you take out Body Corporate Insurance?  

Insuring common property of Homeowners and Residents’ Associations against insured theft and damages is the sole responsibility of the Directors of the Body Corporate. Damage to common property such as boundary walls, entrance gates, security systems and irrigation systems cost the owners thousands should they have to bear the cost of repairing or replacing the damaged property.

How much does Body Corporate Insurance cost?

We have a large book of clients with many different insurance companies, so we will be able to find the most beneficial policy with the cheapest premiums for you. 

Typical claims incurred on Body Corporate Insurance policies

The most common and expensive claims are theft, loss of rent and damage to boundary walls, guard houses, entrance gates, gate motors, security systems, geysers and irrigation systems.

What other insurance should be considered along with Body Corporate Insurance? 

One should also consider Business Insurance, Personal Insurance, Professional Indemnity and Industrial Building Insurance. Ask us for an obligation free quote.

GET A QUOTATION:

Click here to send us an e-mail requesting a quote -> insurance@barrington.co.za 

We will e-mail you a quotation as soon as possible.

Contact details will be kept confidential and will not be used in any way other than as described above and will not be shared with any other parties.

Please note that we can only insure in South Africa.