Tailored coverage for common property
Peace of mind for your complex
Budget-friendly solutions for every community
Residential Body Corporates & Homeowners
Associations
What is a residential Body Corporate
The Body Corporate is a group that takes care of all the shared areas in a complex or building, like gardens, pools, and hallways, on behalf of the owners. They’re responsible for deciding how much each owner needs to pay (through levies) to keep everything running smoothly. They also make and enforce rules, called by-laws, which set out what residents can and can’t do in the complex.
Usually, the Body Corporate is run by a board of directors or trustees—residents who’ve been elected by other homeowners to manage things and make decisions that help the whole community.
What is a Homeowner’s Association?
A homeowners association, or HOA, is a group set up to manage shared areas in a community where individual homeowners fully own their properties. Think of it like this: while you own your house (and the land it’s on), the HOA owns and takes care of shared spaces—like parks, pools, or walkways—that everyone in the neighborhood uses.
Everyone in the HOA contributes by paying a levy, which goes toward things like maintenance, repairs, and upkeep of these shared facilities. Typically, the HOA is managed by a board of directors or trustees, made up of residents from the community who are elected to handle these responsibilities and make decisions that benefit everyone.
What is the difference between a Homeowner’s Association and a Body Corporate?
Cover automatically included
(under buildings combined)
Under buildings combined you may claim for loss of or damage to the physical structure of your business building and its outbuildings.
Accidental
damage
R250 000
Malicious
damage
Full Value of Building
Sum Insured
Limited
leakage
Full Value of Building
Sum Insured
Subsidence &
landslip
Full Value of Building Sum Insured
Machinery
breakdown
R50 000
Employers
liability
R2 500 000
Fidelity guarantee
R50 000
Loss of money
R25 000
Public & trustees
liability
R50 000
Office contents
R100 000
Get bucks back with Cash Back Bonus
Simply add the optional Cash Back Bonus to your policy, stay claim-free for 2 years and start earning rewards.
What you will get*:
-
15% back of all your premiums paid, over the first two years of claims free, uninterrupted cover
-
10% back of all your premiums paid, if you remain claims free uninterrupted cover, for a further two years; and
-
10% back of all premiums paid for every claim-free year of uninterrupted insurance, thereafter.
+83 682
customers received their Cash Back Bonuses over the last 5 years
+R212 million
paid out to customers in Cash Back Bonuses over the last 5 years
Additional cover, automatically included
Demolition and clearing costs
Full value of building sum
insured
Professional fees
Full value of building sum
insured
Fire-fighting charges
Full value of building sum
insured
Other tenants
Full value of building sum
insured
Power Surge
Full value of building sum
insured
Temporary Removal
Full value of building sum insured
Gate Motors
Full value of building sum
insured
Glass
Full value of building sum
insured
To view the full list of Additional Home Insurance Cover Automatically Included, download the brochure below.
Professional Indemnity Insurance
Protects against claims of negligence, errors, or omissions. Covers legal costs and compensation, safeguarding professionals like lawyers, accountants, and consultants from financial and reputational risks.
Directors & Officers Liability Insurance
Safeguards a company and its leaders from legal actions related to their decisions. It covers legal fees, settlements, investigation costs, and awards from claims of negligence or duty breaches.
Public Liability Insurance
Protects businesses from financial losses if they cause injury or property damage to a third party. Ensures businesses are properly covered for unforeseen incidents, providing financial confidence and security.
Events Liability Insurance
Shields event organisers from financial losses due to unforeseen incidents. Covers third-party bodily injury, property damage, and other liabilities, giving you peace of mind while managing your events business.
Mortgage Insurance Clause
Mortgagee interest
protection
The interest of any mortgagee in the buildings, improvements, landlord’s fixtures and fittings and rent insured only, shall not be prejudiced by any act or omission, on the part of the Body Corporate, mortgagor or mortgagor’s tenants resulting in an increased hazard, provided that such acts or omissions have been affected without the knowledge of the mortgagee.
Total loss payment to
mortgagee
In the event of a total loss, we will only indemnify the mortgagee for the outstanding balance still due on the property. The mortgagee shall, however, inform us as soon as such act or omission comes to the attention of the mortgagee and the Body Corporate shall be responsible for any additional premium payable from the date, we agree to take on an increased hazard.
No indemnification for
increased hazard
In the event of any act or omission, as defined in the general terms and conditions of the policy, by the Body Corporate, mortgagor or mortgagor’s tenants which resulted in an increased hazard, no indemnification shall take place to the Body Corporate or mortgagor.
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