Community Buildings are exposed to various risks and threats, which is why their insurance is essential. Jointly Owned Shield provides All Risk Insurance option. The most comprehensive form of insurance.
This coverage combines the insurance of your building (Shared Property and Community Buildings Units) and at the same time protects you, against personal injury or property damage that may be caused to third parties.
Allows you to choose the All Risk Insurance which is the most comprehensive form of Insurance
It is 100% compatible with legislation of Common Building act
Aimed at Building Management Committees that wish to insure the Common Property, as well as all the Units of the Common Building.
It covers loss or damage from an incident during the insured period
Covers loss or damage from an incident including the following:
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According to the Legislation:
According to the Law, the insurance is compulsory, and the Management Committee is responsible for it. The Committee must ensure that the Community 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.
To ensure that your insurance is active, you should notify us of any changes to the data, such as changing ownership of the insured premises, changing the address of the insured office/ shop, any increase/decrease in content, change in the use of your home, extensions or repairs to the building that are likely to increase the risk.
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