ParticularesInsured 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.
Technical criteria
What we see in communities
Community insurance is one of the least reviewed and most used.
Building capital well below reconstruction cost
It is the rule, not the exception. A building insured at 60% of its value receives 60% of any partial claim.
Confusion between common and private
Determining whether the leak comes from a common downpipe or a private installation decides who pays, and is the origin of 80% of conflicts.
RC of the board of directors not contracted
President and board members are personally liable for their decisions and rarely have specific cover.
Undeclared community staff
Concierge, gardener or cleaning staff generate employer's liability that must be expressly declared.
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 definitive scope depends on the wording of each insurer. We review it with you before recommending anything.
The JORI& method
Cómo trabajamos
El mismo método en cualquier solución: entender la exposición real antes de mirar una prima.
Análisis del riesgo
Estudiamos la actividad, el patrimonio y los escenarios plausibles. Sin ese diagnóstico, comparar pólizas es comparar precios de cosas distintas.
Diseño del programa
Definimos coberturas, límites, franquicias y exclusiones aceptables. Decidimos qué se transfiere al asegurador y qué se retiene de forma consciente.
Negociación con el mercado
Presentamos el riesgo a las aseguradoras con las que trabajamos y negociamos condiciones. Somos independientes: no pertenecemos a ninguna compañía.
Acompañamiento y siniestros
Revisamos el programa cada renovación y, cuando ocurre el siniestro, actuamos como tu parte técnica frente al asegurador hasta el cobro.
Frequent doubts
Lo que más nos preguntan sobre 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
The building's reconstruction value, calculated
We review the community policy, calculate the real reconstruction cost and detect the missing covers. We also work with property managers.
- Independent broker: we do not belong to any insurer
- The specialist in the field you consulted answers you
- The review is delivered in writing, policy by policy
