Sectional Title Facts

1. A unit owner who feels that his unit is over-insured cannot reduce the replacement value of his unit set by the AGM.
2. A unit owner who feels that his unit is underinsured is entitled at any time to increase the sum insured but will be personally liable for the additional premium.
3. A unit owner may not exclude his unit and/or his share in the common property from the Body Corporate policy but he may take out additional cover in the following instances:
   
   1.  If he wishes to insure the unit for a higher value than the amount allocated by the Body Corporate - co-insurance will apply should it not be with the same insurer.
   2. If he wishes to insure for any additional risks which are not included in the Body Corporate policy.
4. A bondholder cannot insist on subsidence and landslip cover as this is not a requirement of the Sectional Titles' Act.
5. Subsidence and landslip cover may only be granted on the entire complex and cannot be granted to individual units only.