Sectional Title Insurance
Get a quote online on all types of business insurance!
It is essential for trustees of a body corporate to take out adequate sectional title insurance. A sectional title owner is not obligated to purchase insurance as it is up to the body corporate to ensure that the scheme is insured.
Sectional title insurance should cover buildings and common property for the replacement of each owners section. A body corporate should not expect an owner to pay the insurance excess on whose behalf a claim is made under the sectional title 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.
Trustees and owners should check that the following to avoid claims from being repudiated:
- Functional and adequate fire-fighting equipment should be in place
- The scheme should not be under insured
- Equipment and building materials should be SABS approved e.g. geysers
- Sectional title insurance policies have not lapsed
To get professional advice on sectional title insurance contact a broker who specialises in sectional title insurance. Also complete our quote request form to get a lightning fast quote on insurance policies for body corporates.
Sectional title insurance should cover buildings and common property for the replacement of each owners section. A body corporate should not expect an owner to pay the insurance excess on whose behalf a claim is made under the sectional title 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.
Trustees and owners should check that the following to avoid claims from being repudiated:
- Functional and adequate fire-fighting equipment should be in place
- The scheme should not be under insured
- Equipment and building materials should be SABS approved e.g. geysers
- Sectional title insurance policies have not lapsed
To get professional advice on sectional title insurance contact a broker who specialises in sectional title insurance. Also complete our quote request form to get a lightning fast quote on insurance policies for body corporates.
-
Regions and Locations
Professional business insurance quotes throughout South Africa.