Did you know that up to 70% of buildings in the UAE that are more than 10 years old lack insurance or insufficient insurance?
It is true. However, since the Strata Law was introduced, developments are rapidly finalizing compliance with the new law for jointly owned properties.
At RSA, we take pride in understanding your concerns and concerns about the ever-evolving property landscape. We have the flexibility to adapt and transform, which gives you confidence that your assets are covered.
Learn about Strata's title law
1. The Strata Title Act of 2007 regulates the management of common properties within multi-owner buildings, such as low buildings, skyscrapers, townhouses and villas.
2. The Strata system places responsibility for maintenance, building improvement, budgeting and fund management in the Homeowners Association. Owners will share responsibility for common property, such as elevators, swimming pools, gyms, roads, gardens and more.
3. A key requirement is that all buildings and common areas are insured up to their replacement value and not the market value.
By aligning with Strata's individual requirements, RSA caters to the diversity of the real estate sector. Our strata product not only extends to the minimum requirements of the UAE law: we have designed a solution that exceeds all requirements and is more functional for you.
Your Strata insurance includes covers for:
Construction contents and common areas
Personal accident (volunteer workers)
Responsibility of account holders (responsibility of the management committee)
Break of machinery
For more information about our Strata Insurance in the UAE, call +9714 3029 800 or send us an email to email@example.com
Video credits to rsauae YouTube channel