Whitfield property insurance brokers

Whitfield Property Insurance Brokers is a division of Whitfield Property Management and provides a property insurance service to sectional title schemes and home owners' associations. We are able to source quotes from the five biggest insurers of these schemes in South Africa, thereby ensuring that you get the best rate possible!

Our portfolio of buildings is by no means limited to buildings managed by Whitfields in the northern suburbs of Johannesburg. We provide property insurance services for self-managed buildings and for managing agents throughout South Africa, proof that our quotes are competitive and that our service is of the highest standard. Whitfield Property Management is a registered financial service provider, licence number FSB 6142.
Insurance Manager: Donna-Leigh Elder

IS YOUR BODY CORPORATE/ASSOCIATION ADEQUATELY INSURED?

I'm sure you've all heard the term "average" when it comes to insurance policies! It is usually a term one doesn't like to hear because it probably means your claim is not going to be settled in full. It often gets applied to household contents claims as we often underestimate the value of our possessions and therefore end up being underinsured.

For those of you not familiar with the term, it basically means that if your insured value represents say 60% of the actual replacement value, you will only be paid out 60% of your claim! It should come as no surprise that the principle of average applies equally to property insurance. When applied, bodies corporate and home owners' associations can end up having to finance any shortfall on an insurance claim from their reserves. In certain instances, special levies might even need to be introduced.

To avoid such nasty surprises, it is essential that the buildings and common areas be adequately insured. Unfortunately property insurance companies do not offer free valuations. So unless there is someone in your complex with the necessary skills to do a valuation, one would need to employ the services of a professional valuer to do the exercise for you.

With sectional title buildings, the sections and common areas are all insured under one policy, with the total sum insured then split by participation quotas to arrive at an insured value per unit. Insured values are agreed upon at the AGM by all owners. In a home owners' association, it is just the common areas that are insured. The insured values are determined by the directors on renewal. It must be remembered that all aspects of the common area must be included in the valuation eg paving, street lights, irrigation systems etc.

It is certainly not necessary to do a valuation every year. Once every three to four years would suffice and then simply increase the sum insured by an inflationary figure in the interim years. As a trustee/director, the insurance of your property is probably the biggest responsibility you have. Make sure that your policy is renewed timeously and if you would like a valuation done, chat to your portfolio manager and he/she will arrange one for you.

Looking for an insurance broker

Whitfield Property Insurance Brokers is a division of Whitfields that has been in operation for a numbers of years and provides a property insurance service to sectional title schemes, home owners' associations and homeowners as individuals. We are able to source quotes from the four biggest insurers of these schemes in South Africa being Corporate Sure, Commercial and Industrial Acceptances, Natsure and Abacus, thereby ensuring that you get the best rate possible!

Our portfolio of buildings is by no means limited to buildings managed by Whitfields in the northern suburbs of Johannesburg. We provide property insurance services for self-managed buildings and for managing agents throughout South Africa, proof that our quotes are competitive and that our service is of the highest standard. Information necessary to formulate a quotation: