Housing Association Insurance
The housing association insures the common property – the parts jointly used by apartment owners, such as exterior walls, load-bearing structures, the foundation, the roof, heating systems, and elevators. This also includes the building’s general equipment, such as heating and cooling systems, ventilation systems, and more.
In addition to the building, insurance coverage also applies to shared association facilities, such as playgrounds, car gates, fences, and waste houses.
The association also insures liability – meaning responsibility for damage that may originate from the common property. For example, if a broken tree on the property falls on a parked car, the housing association is liable, and the insurance will cover the damage.