Calculate Averages

Example of How Average is Calculated

re-divider

The unit is insured for R900,000.00. However, the unit’s correct replacement cost is R1,400 000.00.
There is a fire and the cost of damages and removal of debris is R650,000.00.

For Example

Theft of gate motors
Intercom systems
Air-conditioning units
Security surveillance camera equipment
Electric fencing
Energizers
Satellite dishes and aerials
Solar panels and heating equipment
Fire extinguishers and equipment, etc.

In This Case

The settlement calculation will be as follows with the application of the Average clause: If the average clause is applied by the insurer, the total the insurer will settle for a loss of R650,000.00 will be R417,857.14.

Crucially Important

From the calculation, one can see why it is crucially important that the complex together with its common property is insured for the correct replacement value. Some insurers are providing limited cover for external fixtures and fittings.

All Risk Cover

However, ALL Risk cover should be considered for any fixture or fitting located in the open that may potentially be subject to theft, attempted theft, malicious damage or vandalism.

Other Factors That Affect Insurance

re-divider

 

Improvements

Insured values must be adjusted when additional items are added or improvements are made to the property or common property. For example: wooden flooring. carpets, pools, Jacuzzis, refurbishing of kitchens or bathrooms, addition of entertainment area, etc.

Subsidence Cover

Generally most policies give limited subsidence cover. However, this cover is excluded where there is active soils such as clay, dolomite and similar soil types that contract and expand due to the moisture content or water content of the soil. This means that there will be no cover for Subsidence and Landslip in these areas.

Your Responsibility

The Body Corporate’s insurance does not cover contractors or loss or damage caused by them on site. It is strongly recommended that the Body Corporate only allow contractors with the correct Liability Cover to work at the property. It is further suggested that compliance in terms of OHS Act be taken seriously.

Maintenance

The buildings should be properly maintained at all times to reduce risk of failing roofs, waterproofing, collapse of walling, the prevention loss or injury etc.

Risk Alterations

Owners and Trustees have a responsibility to advise the insurer of any increased risk that would affect the underwriting or premium rate or cover itself. For example: Businesses being run from the unit, storing of flammable or explosive materials on site, section extension or renovations, etc.

Structures

All structures must adhere to building regulations and standards, retaining walls are specifically excluded from cover.

Fire Equipment

Fire fighting equipment or prevention equipment must be maintained in working order and serviced annually as required. One must monitor regulations and the changes to these regulations where additional equipment requirements have been added to the regulation

Disclaimers

Proper signage and appropriate disclaimer boards should be prominently displayed at entrances and particularly around swimming pools, visitors parking, stairs, etc.

Compliments & Accolades
re-divider

Residential Communities

Dear Cathy, Thank you very much.  I have never, never, never gotten such prompt and accurate help from Pro Admin, and I am very grateful to you for it. Thank you again.

 – Frankie Alessio

23 May 2018

Rentals

Dear Lize, hope you well. Based on the below trail mail and my previous engagements with the team managing my portfolio over the years; I wish to hereby request that the management of my portfolio be kindly placed under the dedicated hands of Cielie. Cielie understands client engagement, and has a methodical approach in the manner of her engagements. She is a driven individual and tangible actions are achieved when she is called on. I am aware my request is not a normal run of your business request; I still plead to you for consider favourably. Please feel free to call on me for any further discussion in this regards.

 –Artish Manohar

Vice President, Third Party Supplier Services Management | Absa RBB RGC | 25 May 2018

23 May 2018

Utilities

Massiewe dankie aan Suzette Nel: Na vanoggend se telefoon oproep met jou wil ek jou net weereens bedank vir jou vriendelike diens en jou bereidwilligheid om my te kon help. Toe ek skakel het die dame wat my deurgesit het aan my genoem dat jy die kantoor alleen beman aangesien almal uit is met meterlesings. Ek kan net dink hoe moeilik dit moet wees om alleen die kantoor te moet beman en al die navrae te hanteer op een slag en steeds was jy so geduldig en vriendelik en het my dadelik gehelp. Jy is wonderlik en dis werklik aangenaam om met jou te werk.  Baie baie dankie hiervoor. Ek waardeer jou hulp opreg. Ek hoop het ’n wonderlike dag.

 –Ijeanni Koorsen

Landlord

30 May 2018

Residential Communities

An extract from the Nama Rima Trustee Report Aug 2018: 'On behalf of the trustees we wish to thank Mr Ferdi Visser, our Portfolio Manager and Ms Nikkie Mulder for their invaluable contribution in running the affairs of Nama Rima. Mr Visser is especially thanked for his financial and maintenanc eexperience as well as his knowledge of the Sectional Title Act'

 – Nama Rima Trustees

Aug 2018

Utilities – Khumoetsile Gaesale

Utilities

Hi Lucia Nkgabutle,
Thank you very much for your response and the wonderful phone call discussion we had over my account.
Your calmness managed to calm me down (I was extremely furious with Pro Admin for their creative accounting in relation with my account) but your approach and humbleness broke down my fury - thank you and keep it up. One wishes you could be the one to deal with all the time in that company. I have received the statement you just sent - thank you. I will go through it and contact you again should further information be required. Have a lovely day. Regards,

 – Khumoetsile Gaesale

2 Oct 2018

Centurion (Head Office)

Central Office Park
257 Jean Avenue, Centurion

Northcliff

Northcliff
Suite 301B Misa Park
15 Catherine Ave
Northcliff
Johannesburg

Sunnyside

Sunnyside
492 Spuystreet
Sunnyside
Pretoria

Annlin

Annlin
7 Dorethea Street
Annlin
Pretoria North

Our Branches

re-divider

Centurion (Hq)

Central Office Park
257 Jean Avenue, Centurion

Tel: 0861 36 44 44
Fax: 012 344 3741

Northcliff

Suite 301B Misa Park
15 Catherine Ave, Northcliff

Tel: 0861 36 44 44
Fax: 012 344 3741

Sunnyside

492 Spuystreet
Sunnyside
Pretoria

Tel: 0861 36 44 44
Fax: 012 344 3741

Annlin

7 Dorethea Street
Annlin
Pretoria North

Tel: 0861 36 44 44
Fax: 012 344 3741