BENEFITS OF HAVING LEVY COVER

STILUS specialises in assisting Body Corporate Schemes with levy claims

 

  • Levy cover, which can only be obtained from an insurance company, protects Body Corporate Schemes against owners who have defaulted on their levy obligations.
  • Levy cover is included in the ONE Body Corporate Solution Insurance policy as a VAP.
  • Payments made to Body Corporate schemes in settlement of claims are outright payments. These payments are not loans
  • A significant 10 percent coverage of the unit’s insured value is offered.
  • Cover includes special levies, electricity and utility charges as well as interest.
  • The payment of Levy Claims will not have a negative impact on the claims history in respect of the Material Damage Policy.

 STAND ALONE LEVY PRODUCT

 

With effect from 1 October 2020, a Body Corporate can apply for Levy Cover independent of the Insurer who holds the material damage policy. In other words, the Body Corporate can now obtain levy cover in the form of a Stand Alone Levy Policy. Ask your Insurance Broker to request a quote from estelle.s@one.za.com