IndividualsInsured Capital M€318 Policies processed2.100 Clients1.650
Community insurance
At JORI, we understand the importance of keeping your community safe and protected.
In short
What is community insurance
Community insurance covers the common elements of the building and the civil liability of the community towards third parties, including the neighbours themselves. It is mandatory in most communities by regional regulations or by statutes, and its critical point is the building capital: most buildings are insured below their actual reconstruction cost, which activates the proportional rule in any large claim.
Advantages
Advantages of community insurance
A well-insured community avoids special assessments and prevents conflicts from ending up in court.
You avoid the special assessment
Without sufficient cover, the repair of a common element is shared among owners. With it, the building is repaired without a tense meeting.
Personally protects the president
The position is rotational and the president is liable with their assets for decisions made. With the board guarantee, presiding is no longer a personal risk.
A third party decides whose leak it is
The technical report determines if the origin is common or private. Without it, the discussion between neighbour and community drags on for months.
The administrator is accountable to the board
Being able to prove that the cover is aligned with the real reconstruction cost is what protects the administrator when a major claim occurs.
Profile
Who it is for
Property managers
Professionals who are accountable to the board for the suitability of the cover contracted.
Presidents and boards of directors
Positions that assume personal responsibility for decisions made in the course of their duties.
Communities with construction work
Buildings under renovation, with added exposure during execution.
Urbanisations and complexes
Complexes with common areas, swimming pool, lifts and contracted staff.
Scope
Main covers of community insurance
- Building structure of common elements: structure, facade, roof, installations and common areas
- Water damage, including locating the fault in common elements
- Fire, explosion, electrical damage, theft and vandalism
- Civil liability of the community, employer's and board of directors
- Legal defence, claims for damages and advice in conflicts with neighbours
- Twenty-four hour assistance and emergency services in common areas
The JORI method
How we work
Risk analysis
We study the activity, assets, and plausible scenarios. Without that diagnosis, comparing policies is comparing prices of different things.
Programme design
We define covers, limits, deductibles, and acceptable exclusions. We decide what is transferred to the insurer and what is consciously retained.
Negotiation with the market
We present the risk to the insurers we work with and negotiate terms. We are independent: we do not belong to any company.
Support and claims
We review the programme at each renewal and, when a claim occurs, we act as your technical representative with the insurer until payment is received.
Frequent doubts
Most frequently asked questions about community insurance
Is community insurance mandatory?
In several autonomous communities it is mandatory by their own regulations, and in the rest it is usually imposed by the statutes or by board agreement. Regardless of the formal obligation, not having it exposes the owners personally to be liable for damages caused from common elements.
How is the building structure capital calculated?
By total reconstruction cost, including demolition, technical fees and licences, not by market value of the flats. In buildings of a certain size, we recommend expert valuation: it is the only way to eliminate the discussion about underinsurance on the day of the claim.
Who pays for a leak: the community or the neighbour?
It depends on where the origin is. If the fault is in the downpipe, riser or common installation, the community pays; if it is in the private installation of the flat, the insurance of that owner pays. Determining the origin with a technical report before discussing is what prevents the matter from becoming entrenched.
Does the insurance cover the president if claimed?
Only if the civil liability cover of the board of directors has been contracted. The president and board members are personally liable for decisions made in office, and it is a cheap cover that many communities do not have.
What happens if the community carries out works?
The community policy does not cover the execution of the work. The contractor's RC and all-risk construction must be required, and it must be verified that the community is listed as an additional insured. This is the point we always review before a facade or roof rehabilitation.
Does it cover lift damage?
The community's RC covers damage to people by accident in the lift. The fault of the apparatus itself corresponds to the maintenance contract, and damage to the lift itself by a covered claim is included in the building structure. These are three different avenues that should be clear in advance.
Communities
