Levy Insurance - How does that work?


	Posts Create Post

Pierre

Posted : Wednesday, 20 Jul 2011 21:16 Question

Pierre77
Joined : 25 Jul 2011
Posts : 7
Location : Cape Town, Western Cape

Does anyone know exactly how does Levy insurance work? Does that mean our Levies are paid if someone from our Sectional Title complex doesn't pay, or falls behind on his levies. How or who will then collect the money from the owner who has not paid?

Craig Coetzee

Replied : Monday, 09 Jan 2012 10:33 Answer

Craig88
Joined : 25 Jul 2011
Posts : 46
Location : Cape Town, Western Cape

Hi. There is a product call Stilus. They do levy insurance. You pay an insurance premium on a monthly basis to Stilus. If an owner defaulters for more than two months (1 month and 7 days); you can put in an insurance claim. Stilus will then pay out the claim within 7 days of submission and the debt then becomes the responsibility of Stilus to collect. You can talk to your insurance broker about it or you can enquire directly with Stilus (021) 9149002.

Want to submit a Post?
Click here to register for free.

Already a member, click here to Login