Multi-insurance policy for Jointly Owned Building

Get a multi-insurance policy offer for Jointly Owned Building
Fast, Free and Personalized

Together... we feel safe

Jointly owned buildings are exposed to a number of risks and threats, which is why insurance is essential. The new Jointly Ultimate plan provides All Risk cover. The most comprehensive form of insurance available.

Why TRUST Jointly-Owned Building "Ultimate"

Comprehensive Insurance for Jointly Owned Buildings

Building Insurance, Third Party Liability, Protection of the Members of the Management Committee and coverage for the employees of the Management Committee all-in-one policy. The policy when the units are covered is extended to provide Third Party Liability coverage to the unit owners as well.

Compatible with legislation

It is 100% compatible with legislation of Common Building act

All Risk

We provide you with the option of choosing All Risk Insurance which is the most comprehensive form of Insurance

Who Is This Insurance For?

Addressing to Building Management Committees that wish to insure the Jointly Owned Property, as well as all of its Units.

+357 22 050100

Jointly Owned Buildings Coverage All Risk

Cover for loss or damage occurring during the period of insurance and which is not excluded.

Extensions

Architect, Surveyors and Consultant Fees
Removal of Debris Expenses
Accidental Glass Breakage
Trace and Access
Accidental Damage to Cables and Underground Services
Loss of Metered Water
Replacement of Locks
Fire fighting Costs
Public Authorities
Loss of Rent
Temporary Accommodation Expenses
Short Circuit

Damage to the Building following Theft or attempted Theft
Fire Brigade Damages
Inadvertent Omission to Insure
Workmen
Unoccupancy/Not Used
Reinstatement For Buildings – 85%
Drains
Loss or Damage to the Jointly Owned contents following Theft or attempted Theft
Inflation Protection – Buildings
Cover to Outdoor Buildings/Spaces and to Property in the Open
Garden Plants
Claim Preparation Expenses

FAQs

What is a Jointly-Owned Building?

According to the Legislation:

According to Article 38B of the above law a Jointly Owned Building is defined as: “A building which consists of more than at least five units, even if this with all its units belongs to a single owner”
A building that consists from 2 and up to 4 units can be considered as a jointly owned building and be registered as such if the owners of at least the 50% of the Jointly Owned property or if any 2 owners of units submit an application to the Director of Lands and Surveys department asking that the building is considered to be jointly owned.
Point 3- Separate buildings located on the same property even if they are not horizontally separated can also be considered as Joinlty-Owned buildings.

Who is responsible for the insurance of the Jointly-Owned Building?

According to the Law, the insurance is compulsory, and the Management Committee is responsible for it. The Committee must ensure that the Jointly Owned Building is insured against fire, thunder lightning and earthquake, to a licensed insurer for the amount which the Management Committee considers to be its replacement value. For other risks, insurance is compulsory only if it is decided by the 50% ownership rate.

What should I know during my Insurance period?

To ensure you are properly insured, you must inform us of any changes that may affect your insurance risk, such as if renovation work of more than €100,000 will be carried out. You should also make sure that the sum insured reflects the replacement value, i.e. the cost of rebuilding the building as if it were new.

Would you settle for anything less than the best? Look for it...We are waiting for you!

Get an offer

Contact

or call us now at +357 22 050 100

Multi-insurance policy for Jointly Owned Building

Together... we feel safe

Why TRUST Jointly-Owned Building "Ultimate"