Complex Insurance

Questions about living in properties with shared/common facilities
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digit
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Joined: 20 Jun 2016 15:04

Complex Insurance

#1 Post by digit » 29 Sep 2017 16:00

Hello Nigel,
We take out insurance via our developers to cover our complex. Last year we got a better quote from a UK company but we were told that we could not use them as the insurance had to be from a company under Cyprus jurisdiction. We duly paid the premium to the developers but can not get any paperwork from them to show that the insurance is in force and believe that it is highly likely that they have never paid the insurance company. We have tried e-mailing the insurance company directly for confirmation but can get no response. Our easiest option now is to use the UK company directly ourselves. Can we legally use them or are the developers correct?
David



Nigel Howarth
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Re: Complex Insurance

#2 Post by Nigel Howarth » 08 Oct 2017 07:46

Hello David

Apologies for the delay in replying - I've just returned from two weeks touring Uzbekistan.

Don't use a UK insurance company. For advice on insuring your complex and quotation get in touch with Andrew Stott at 3D Global - see http://www.3dglobal.com/about/team/andrew-stott

If your complex includes shared facilities such as a pool, entrance foyer, staircases, lifts, communal gardens etc - and it comprises more than four units you should set up a Management Committee to insure, repair, maintain, etc. the common areas. (But check your contract of sale as it may oblige you to use the services provided by the developer).

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
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digit
Posts: 4
Joined: 20 Jun 2016 15:04

Re: Complex Insurance

#3 Post by digit » 08 Oct 2017 22:46

Thank you Nigel,
Hope you enjoyed your trip. I will check my contract first then perhaps make contact.
Your link doesn't actually work but I have found my way there via the website address.
Many thanks again.
David




Nigel Howarth
Site Admin
Posts: 2164
Joined: 24 Oct 2007 14:38
Location: Erimi, Limassol, Cyprus
Contact:

Re: Complex Insurance

#5 Post by Nigel Howarth » 15 Oct 2017 09:00

Andrew, I haven't received your PM.

You can find a paper on insurance for complexes on my website at EVERYTHING YOU WOULD LIKE TO KNOW ABOUT THE INSURANCE OF JOINTLY-OWNED BUILDINGS.

Regards,


Nigel Howarth
Independent information & advice for Cyprus property buyers
Contact Nigel Howarth
Read the latest Cyprus property news

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