Ingwelala insurance is updated on an annual basis in the month of May.
A letter with the replacement values for each bungalow is sent to Members during this time each year, otherwise these values can be can be obtained from reception at any time.
Insurance for each bungalow is calculated on building-only replacement value, and it is each owner's responsibility to make sure his/her bungalow is adequately covered and notifies management of any changes. In case you think this will never happen to you, during the 2008/2009 financial year, Ingwelala lost two units to fire (lightning induced).
Consider the finish in your unit against this bench mark figure and adjust it accordingly. Insurance payments are limited to the amount you are individually insured for, so it is vital that this amount be sufficient. Please ensure that VAT, demolition, site clearance, contractors gate fees and transport costs etc., are also included in the sum insured.
Please note: decks and gazebos are rated individually on instruction from Members.
Where building maintenance/refurbishment projects have a value of R 500 000, 00 (five hundred thousand) or more, it is the responsibility of the member to ensure Contractors All Risk insurance is in place, prior to any work commencing.
Solar equipment remains a sought after commodity. When estimating the value of your solar equipment, bear in mind that the building costs (above) do not include solar costs or the service provider’s travel and labour to install these systems. Again, consider the desire and additional costs of having electrical wiring “chased into” walls versus a simple surface installation.
Please remember that your 4x4 game-viewers and household contents are not covered by Ingwelala insurance, and need to be privately insured under a separate policy.
by John Llewellyn.