Commonly Owned Properties & Common Areas Insurance

According to law, the Management Committee of a jointly-owned building is obliged to ensure that the building has sufficient insurance coverage for Fire, Lighting and Earthquake, by a licensed insurance company, for the replacement value of the building.

Our insurance policy has been designed with additional coverages, with the aim of offering comprehensive solutions το our customers and is available to either cover the common areas only or the whole building and comes at very affordable pricing.

With three new packages specially aimed to offer the coverage required by law but also including third party liability insurance we can meet all customer needs. Our Company’s insurance policy offers complete insurance coverage to co-owned buildings of any size and type.

In a nutshell our packages offer the following:
Basic: Fire, Lighting, Earthquake at Replacement Value and Public Liability insurance of commonly used areas.
Plus: The cover offered by Basic with the addition of Explosion, Naturals hazards, Malicious Acts, Removal of Debris, Professional Fees, Short-circuit, Public Liability at higher limits of indemnity and extension of Liability claims due to fire and explosion.
Premium: The cover offered by Plus with the addition of Damage from theft or attempted theft, Accidental Breakage of glass, Cover of outdoor installations/ items in the open areas against natural perils, Public Liability at even higher limits of indemnity and as well as cover for the Legal Liability of the Administration Committee Members and Public Liability of the unit owners.

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