Why do we pay an insurance excess?
We buy insurance to secure protection for ourselves when we suffer a property loss or damage which we cannot afford to repair or replace out of pocket. When a claim…
insurance
The AGM handout and how to use it
In this short blog article, we explain the sectional title AGM handout and how it has proven to be an invaluable tool at sectional title AGMs. This simple A5 brochure…
Understanding your insurer’s response to third-party liability claims
In community schemes, incidents occasionally arise where third parties (people outside of the scheme) experience damage or injury linked to the property. Common scenarios include a gate closing on a…
Resultant Loss vs. Consequential Loss
Resultant damage: This is defined as a loss that occurs as a direct result of an act caused by an insured peril. In sectional title insurance, the most common example…
Are blocked pipes covered by insurance?
There is no requirement in community scheme legislation for insurance to attend to unblocking pipes. The mainstream community scheme insurers we work with, exclude the unblocking of pipes or blocked…
Claims ratio in a nutshell
(Updated 8 July 2024) For trustees and portfolio managers to have an objective understanding of an annual premium increase, or even an interim increase, it is vital that the content…
Settling of claims in the sectional title environment
Sectional title ownership is unique in several ways. By dividing a building into sections with imaginary lines, akin to the borders of a country, it becomes essential to insure the…
The effects of Covid-19 on community scheme insurance
During 2020, Addsure hosted a number of informative webinars on the effects of Covid-19 on community scheme insurance. Aside from doing research on this topic to share with the audience,…
Retaining walls and insurance
What is a retaining wall? A retaining wall is any wall that holds back soil or other material on one side of the wall, i.e., where the ground or surface…
The risky season
It is around this time of year that we start reminding trustees and owners to take care around common property. We published a blog last year on festive season risk,…