Usually, standard buildings insurance policies only respond to claims where damage to the buildings is accompanied by breaking into, or exit from, the building. For example, where security gates and doors, windows and bars are forcibly broken through and where internal fixtures and fittings may have been damaged in the act of the theft. This is conditional upon forced entry and/or exit to or from the building.
Insurance policies do not ordinarily cover theft of exterior fixtures and fittings; some examples of these items include: Gates and motors, air conditioning units, intercom systems, security surveillance camera equipment, aerials and masts, satellite dishes, exterior pipes and taps, pumps and borehole equipment, etc.
With the ever-worsening plague of criminal activity linked to ‘scrap metal’ value, we are experiencing alarming increases in theft of metallic items from buildings. Fixtures containing copper pipe or copper wire content within components are targeted by opportunistic criminals.
Most of the specialised sectional title policies available do provide indemnity benefits for theft of exterior fixtures and fittings (usually between R10 000 and R20 000) in their policies. Therefore, we recommend that higher value exposed items (those items at risk) be considered for cover on an ‘All Risk’ basis where the replacement or reinstatement value may exceed the limited value of cover provided in your policy. This cover is optional and would include cover for theft. Items would be ‘specified’ for an insured value, examples include extensive electric fencing, mounted security camera equipment, air conditioning units, larger metal gates, flagpoles, etc.
‘All Risk’ cover includes cover for loss due to theft.
Author: Brian Addison
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