Brokerage Division

Our in-house brokerage division is registered with the Financial Sector Conduct Authority (FSP no: 1234), as per Financial Advisory and Intermediary Services Act, 2002 (Act no.37 of 2002).

Specialisation

We have a combined 40 years’ experience in the insurance industry and specialise in all Community Schemes, Sectional Title Property Insurance, Share Blocks and Homeowners Associations.

Mandates

Mandates are held with various specialised insurers, whose policies are structured around community schemes. With these mandates we are able to offer competitive premiums and excellent products.

The Policy

The policy documents should be read thoroughly to ensure that the cover provided meets the requirements of the scheme and that the information reflected is correct.

Always pay attention to and ensure understanding of the terms and conditions, memorandums, endorsements, warranties, notes, exceptions, exclusions of the policy and the excess payments which are applicable in the event of a claim.

Claims Facilitation

Each scheme has a dedicated claims assistant who in the event of a claim will facilitate the entire claim process and will assist the owner/scheme with:

• Registration of the claim
• Appointment of the contractors
• Authorise the repairs
• Conclude and finalise the claim

Your Responsibility

It is the responsibility of the owner/Body corporate to:

• Immediately report a loss when it has occurred or within a reasonable period or usually within 30 days of the loss.
• One is required to take all reasonable precautions to prevent a loss or to minimise the damage.
• Application of average in the event of a claim
• Do contact us immediately upon the happening of a loss – should this occur after hours and it is necessary to appoint a contractor for emergency repairs.
• Please do remember the policy limits.

Important to Note

Our Property Management professionals manage and coordinate the administrative operations, financial control, and maintenance of properties, providing expert guidance to committee members and owners – taking away the hassle, stress, and risk to future investors within a building.

Replacement Values

In determining the replacement values, it is imperative that consideration be given to different types of structures, infrastructure and the replacements values of each for example:

Nunits
Ngarages, storerooms
Nworkers quarters
Nsport and recreational structures
Nswimming pools
Npaving, street lights
Nboundary walls
Ndrainage,
Nsub-stations

Property Evaluation

It is the responsibility of the Body Corporate and owners to determine the replacement costs of the units including all common property and to ensure that the complex is adequately insured.

Remember, additional costs such as professional fees, VAT, demolition, debris removal must also be included in the calculation to ensure accuracy of the insured values.

Additional Costs

How do Improvements, Maintenance, Disclaimers, Limited Subsidence Cover, Structures, Risk Alterations, Contractors On Site, Fire Fighting Equipment affect my insurance cover?

How do I calculate the average?