The multiple coverages of the community insurance allow it to adapt to the needs and protection of its members (the owners) so that they are covered against a claim for debt or interest, a fire, electrical damage due to power surges, short circuits in common areas, possible flooding due to broken water pipes, or meteorological phenomena. Insurance for communities of owners is highly recommended in communities with several owners, especially in small communities. It covers damage to common elements: structure, housing, garage, roof, terraces, the entrance or water pipes, and the civil liability of the neighbors or workers of the property and saves us from expenses for broken glass, theft, vandalism, and long etcetera… and problems with neighbors.
Types of Contracting in Community Insurance
Not all communities are the same, so we have different modalities that adapt to all needs.
Modality 1
- Community of Neighbours of Flats or Apartments Communities of blocks of flats/apartments with one or more entrances and their garden and sports areas. Whether you are looking for small community insurance, or macro-community insurance – with a communal garden, swimming poo,l and/or garden area – taking out our community insurance will interest you. Own damage, civil liability, breakages… Avoid contributions and neighborly arguments.
- Insurance for single-owner residential buildings. Are you the owner of a residential building and want to ensure the value of the building, and the structure, as well as possible damage that may be caused by the pipes or a possible collapse of the façade? With our insurance for a community of single-owner residential buildings, generally intended for rental, you can even insure a first risk for the contents of each of the homes.
- Insurance for communities that have not yet been established. For those cases, generally temporary, in which for different reasons the Community of Neighbours has not been established but the properties belong to different owners, we offer comprehensive and appropriate insurance.
- Office Building Community Insurance Communities of one or more office blocks with their garden areas and commercial premises.
- Single-tenant office buildings Insurance for single-tenant office buildings, usually intended for rental and with more than one tenant.
Modality 2
- Community of semi-detached or detached houses. Communities of semi-detached or detached houses made up of one or more blocks, as well as their garden and sports areas, garages, elevators and/or machinery, etc. It is also important to ensure civil liability for common areas, facilities, the automatic garage door, etc. Insurance for communities of single-family homes is very reasonably priced.
Modality 3
- Insurance for Garage Community Garage Community for private use for the co-owners of a community of flats/apartments or semi-detached/detached houses. This is exclusive insurance for the parking lot with a capital at the total value of the building and civil liability for possible damages caused to the building of premises, offices, and homes. In addition, our garage community insurance is very economically priced.
Modality 4
- Common Area Insurance. Having a swimming pool, a park where children can play, or sports courts in your community offers private, quiet, healthy space … However, they can suffer damage that would cause community fees. Our insurance for green areas in communities of owners, covers, if necessary, exclusively the common areas where there are gardens, swimming pools, sports areas…
At SEGURCORAZÓN we want your peace of mind, which is why we offer a 15% discount for residents who additionally take out home insurance with us.
Community owner’s insurance covers
- Fire, explosion, and smoke.
- Electrical damage to electrical installations, appliances, and machinery, for example in the electrical panel or affecting the elevator.
- Atmospheric phenomena and other material damage.
- Water damage coverage from community pipes.
- Water leaks. Including the costs of locating and repairing leaks.
- Excessive consumption of community water, including refilling the community pool when it needs to be emptied as a result of a covered incident.
- Unblocking of community pipes using pressure groups, pump trucks, or similar, whether or not they have caused damage.
- Theft and attempted theft.
- Expenses for unblocking community pipes with or without damage.
- Preventive unclogging, which provides a preventive cleaning service for community drainage pipes. Avoids future unpleasant incidents with sewage leaks.
- Possibility of contracting water damage in private pipes.
- Machinery breakdown, to ensure all community machinery. Elevators, hoists, central air conditioning, pumps, and/or water purifiers…
- Total ruin of the building.
Legal Protection for Homeowners’ Associations
Our community insurance includes basic legal coverage that you can expand according to your needs and interests.
You can also take out Community Legal Protection Insurance, which is the current solution to all types of situations, problems, or legal conflicts that a Community may encounter.
- Telephone, email, or even in-person advice on the scope of the rights of the community of owners: maintenance contracts, regulations, breaches of contract, administrative defense, etc.
- Claim against community owners for expenses claimed judicially against an owner for non-payment of expenses owed to the community.
- Advance payment to the community of expenses claimed judicially against an owner for non-payment of expenses owed to the community.
- Claim for damages caused to both personal property and the building.
- Criminal defense of the community and its governing board.
- Complaint to the renovation company for breaching the contract to carry out works for the community.
- Complaint against co-owners for failing to comply with internal regulations on aesthetic elements by installing an awning of a different color than that permitted in the statutes.
Community owner’s civil liability insurance
The above coverages are to protect the property of the community of owners against possible levies or expenses due to damage to the community property.
Civil liability towards third parties refers to the obligation of both individuals and legal entities (companies, societies, communities of owners) to repair the damage they have caused to a third party.
If a third party is harmed due to negligence on the part of the community of owners, the community of owners must provide compensation.
Let us take as an example the Ruling of the Provincial Court of Zamora of 13 October 2017, in which it “Partially upholds the claim made for the fall in the portal of a Community of Owners that lacks sufficient lighting because the light bulbs were burned out. It attributes 70% of the liability to the Community of Owners as well as to its insurer and 30% to the person who fell.” it obliges the community to compensate the injured party for €12,465.51.
Does your community of owners have that amount? Do you think it is better to assume that amount when it comes or to take out the community of owners’s civil liability insurance and rest easy?
The community owners’ civil liability insurance has several coverages to contract
- Of the property: for example, in the event of a façade falling off or a community pipe breaking
- Employers: for example, in the event of a cleaning staff failure
- Governing Board: for example, in the event of a decision taken at a residents’ meeting and which the President has not executed correctly due to an error.
Other additional coverage to community owners’ insurance
- Extinguishing and mitigating disasters, salvaging property, clearing debris, and restoring aesthetic harmony.
- Loss of rent.
- Forced eviction or uninhabitability coverage
- Water damage.
Coverage for uninhabitability, for a “covered” incident
The “uninhabitability” guarantee, also known as forced eviction, varies depending on the insurance company, although we could summarize it as follows.
Expenses incurred by the co-owners of the insured community for the rental of other homes, offices, garages, or premises with similar characteristics to those that become uninhabitable as a result of an incident covered by the policy and for a period not exceeding one year, provided that they were inhabited or with activity at the time of the incident, and based on their coefficient.
It is very important to note that you will only be entitled to this guarantee when it is ” as a result of an incident covered by the policy “since the reason that gives rise to the use of the guarantee must be an incident covered by the policy. If the cause that gave rise to the incident is not covered by the policy, we will not be able to use the uninhabitability guarantee.
Loss of rent due to forced eviction
In cases where the home, office, or premises were rented at the time of the covered incident, reimbursement of the actual loss of income from said rental is guaranteed, during the period invested in repairing the
damage. Ensure your community of neighbors or garage. Claims against delinquent owners. 24-hour assistance telephone line, Eviction, Water damage… and your trusted Insurance Advisor.
Your trusted advisor will guide you regarding the minimum amounts and coverage you need for your community property liability insurance. Contact us now and be the hero of your community.