Quick answer: A sectional title insurance certificate is a summary document that confirms certain insurance details for a scheme or unit. Owners often need it for bond purposes, sales, refinancing or proof that the body corporate has building insurance in place.
What an insurance certificate may show
- Name of the insured body corporate or scheme.
- Policy number and insurer details.
- Period of insurance.
- Building sum insured or section-related replacement value.
- Broker or administrator details.
- Important notes, conditions or disclaimers.
What it is not
- It is not the full policy wording.
- It does not always show every exclusion, excess or special condition.
- It is not a replacement for a proper insurance review.
- It usually does not confirm contents insurance for the owner.
Why owners ask for it
- Banks and bondholders may require proof of building insurance.
- Buyers may want confirmation that the scheme is insured.
- Trustees may use it as part of AGM or renewal documentation.
- Managing agents may need it for owner queries.
What trustees should check
- That the policy period is current.
- That the scheme name and details are correct.
- That replacement values and schedules are up to date.
- That owners understand the difference between building insurance and contents insurance.
Need help reviewing the insurance position?
Lowensvlei Insurance Brokers assists body corporates, trustees and managing agents across the Western Cape with body corporate insurance reviews, renewal checks, water damage claims, public liability, fidelity cover and trustee insurance support. Request an insurance review.
Lowensvlei Insurance Brokers assists body corporates, trustees and managing agents across the Western Cape with body corporate insurance reviews, renewal checks, water damage claims, public liability, fidelity cover and trustee insurance support. Request an insurance review.
This guide is general information for trustees, owners and managing agents. It is not legal advice. Always check the scheme rules, policy wording and current legislation before making final decisions.