Every Sectional Title Scheme requires insurance as it is a legal requirement in terms of the Sectional Title Scheme Management Act. As professional property Valuers, we can assist you with all your Sectional Title Property Insurance Valuations.

The Act stipulates that, among the duties of the trustees are:

  • to insure the building or buildings and keep it or them insured to the replacement value thereof against fire and other such risks as may be prescribed.
  • to insure against such other risks as the owners may by special resolution determine.

The Management Rule stipulates that the insurance must cover the full replacement value of all units and the replacement value of each unit must be specified separately. The insured value needs to tie up with the sectional plans and the participation quota of the units. The participation quota might vary from unit to unit, due variances in floor extent, so this needs to be accurate.

Do you require an insurance valuation on a sectional title scheme property? We are registered and expert professional Valuers, with the necessary experience to assist you accurately, timeously and cost effectively. Contact us today and equip yourself with a sectional title property insurance valuation report from Valuetec, so that we can take care of all your Sectional Title Scheme Insurance valuation requirements, whether it be for a residential, commercial or a specialised property.

Valuetec have offices in Gauteng, Western Cape and Kwazulu-Natal and undertake valuations of all types of properties ranging from agricultural, commercial, retail, industrial, specialised and residential. Contact us today, whether you require an insurance valuation or an alternative property valuation for acquisition, disposal or financial statement purposes. 

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