Why do I pay the Excess on Insurance Claims

Why do I pay the Excess on Insurance Claims

The owner of a section is liable for the excess on insurance claims as per the Sectional Titles Schemes Management Act, Regulation 23 (2):


23. Insurance

(2) A member is responsible -

  • (a) for payment of any additional premium payable on account of an increase in the replacement value referred to in sub-rule (1)(b);

  • (b) for any excess amount that relates to damage to any part of the buildings that member is obliged to repair and maintain in terms of the Act or these rules,

and must furnish the body corporate with written proof from the insurer of payment of that amount within seven days of written request.

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