One Levy Cover

One Levy Cover Making life better all round for homeowners! If the past two years are anything to go by, 2022 will be no less of a bumpier ride, for some.

For those of us who have come through this period relatively unscathed, we may not be so lucky. That’s why…

… it’s worth getting some insurance! Speak to your managing agent or ONE-accredited insurance broker about - ONE Levy Cover – unlocking your HOA’s cash flow to continue providing invaluable service to you, even when times are tough. Minimise the legwork in default levy collections and bolst

er your HOA’s value - ONE Levy Cover, makes every levy count! To up, contact our experts - Charles Coetzee, or Estelle Sutherland - for an obligation-free quote. Providing industry-specific solutions, ONE Insurance Underwriting Managers (Pty) Ltd, FSP 8783, administrates ONE Levy Cover, which is underwritten by Mutual & Federal Risk Financing Limited, a licensed non-life insurer.

Address

1st Floor, ONE On Estuaries Building, 1 Oxbow Crescent, The Estuaries, Century C
Cape Town
7441

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 15:00

Telephone

+27861266562

Website

Products

If the past two years are anything to go by, 2022 will be no less of a bumpier ride, for some. For those of us who have come through this period relatively unscathed, we may not be so lucky. That’s why…

… it’s worth getting some insurance!

Speak to your managing agent or ONE-accredited insurance broker about - ONE Levy Cover, and more... unlocking your HOA’s cash flow to continue providing invaluable service to you, even when times are tough.

Minimise the legwork in default levy collections and bolster your HOA’s value - ONE Levy Cover, makes every levy count!

To up, contact our experts - Charles Coetzee, or Estelle Sutherland - for an obligation-free quote.

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Our Story

A team of sectional title role players gathered in 2010 to find a solution for Body Corporate Schemes who were suffering from a chronic shortfall of cash due to the non-payment of levies by owners. What seemed to be an impossible task, the STILUS team created a simple solution in the form of a Levy Insurance product which could be added to any Body Corporate Policy, known in the insurance industry as a Value Added Product (VAP)

Upon interviewing trustees of schemes we heard the same story over and over again “we cannot paint the building because the owners have not paid their levies” or, “we cannot repair the lift because the owners could not afford the levies”.

We could see that the trustees as well as their managing agents became increasingly frustrated with the lack of funds in order to pay basic expenses such as water, electricity, lift maintenance etc. Owners would decide on a budget at the AGM and told the incoming trustees to send levy accounts to all owners. Easy to say, but when it comes down to the nitty gritty, owners are unable to pay levies for many reasons; unemployment and ill health for example. This lack of Levy collection puts extreme pressure on any scheme. We understood the frustration of the trustees so the STILUS team created a permanent solution for all schemes in the form of a VAP.

Now remember, STILUS is not an insurance company, but acts as a levy claims assessor who works on behalf of the insurer of the Body Corporate. Levy claims are sent to the insurer by the trustees or the managing agent. We work closely with Managing Agents who send their claims to the insurer, who, in turn forwards the claim to STIILUS to “assess” the recoverability of the levy claim. In assessing the recoverability of Levy Claim, we check, amongst other things, the good and proper governance of the body corporate.