As required by Jointly Owned Property Law regulations and directions, the community manager must maintain a minimum level of insurance. This includes:
Property insurance
Public liability
Fidelity guarantee
Board members’ liability
Your building is insured for accidental, physical loss, and damage or destruction to the property. The perils covered include but are not limited to fire, lightning, aircraft damage, explosion, earthquake, riot, strike, malicious damage, storm, flood as well as bursting or overflowing of water apparatus/tanks/pipes.
The cover is also extended to include the cost of rent for alternative accommodation, in addition to public liability for injury to third parties for loss of or damage to third party property.
Finally, we have you covered against political violence. Your building is insured against loss or damage liability for injury to third parties or for loss of or damage to third party property by an act or series of acts of sabotage and terrorism, malicious damage, riots, strikes, civil commotion, invasion, acts of foreign enemies, hostilities (whether war be declared or not), civil war, rebellion, revolution, coup d’état, insurrection or mutiny and war.
Important: Coverage excludes loss or damage to homeowner’s/tenant’s personal belongings, including modifications made on fittings that were not originally provided as part of the unit.