Comprehensive Condominium Insurance
The support and peace of mind that your consortium needs
We know that any incident, from a fire to a pipe bursting, can generate unforeseen costs and affect the cohabitation in the building.
At Hanseatica, we understand the concerns of administrators and property owners, and we are here to offer comprehensive coverage that protects your building against these risks. Our Condominium Master Policy is designed to provide peace of mind, covering everything from real estate assets to specific building furnishings, and ensuring support in the event of any incident.
With this protection, you can be assured that both the infrastructure and the well-being of the owners will be safeguarded against any unforeseen event.
Key Coverages
- Fire Damage to Building and Contents: Protects the building and its contents against fire damage, including risks from severe weather conditions such as hurricanes, gales, cyclones, and hail.
- Theft of Contents: Covers the theft of property within the building, including key items such as fire extinguishers and security equipment (emergency lights, security cameras, and surveillance systems), and theft of common expenses (in transit and within the building).
- Electronic Equipment: Coverage for the building's electronic equipment, including failures caused by power supply issues.
- Water Damage: Coverage for damages resulting from leaks, system failures, or power supply deficiencies.
- Glazing: Coverage for the breakage of glass and glazing in common areas.
- Extraordinary Expenses: Covers additional costs incurred as a result of a covered incident.
- Specified Property: All-risk coverage for declared property located within the building.
- Comprehensive Civil Liability: Indemnifies the condominium association against third-party claims arising from non-contractual civil liability provisions, in accordance with the guidelines of the National Civil and Commercial Code.
Additional Coverage
- Professional fees in the event of fire incidents.
- Expenses arising from the cleaning or removal of debris.
- Damage to adjoining properties as a result of fire or explosion.
- Contained fire in the caretaker's residence.
- Damage to furnishings due to flooding.
- Civil Liability for the use of elevators and/or hoists.
- Civil Liability for the use of common boilers and/or water heaters.
- Civil Liability for pipe breakage.
- Civil Liability for renovations.
- Civil Liability for the use of multi-purpose rooms (SUM) and/or paddle courts.
Request a quote
Please provide your details, and our people will contact you promptly to offer guidance. This insurance is exclusively available within Argentine territory.
24/7 Support
We offer agile and continuous 24/7 support through multiple channels, ensuring you always have someone available to assist you when needed.
Technical and Legal Advisory
We provide comprehensive support, ensuring that all the technical and legal aspects of your operations are covered, with solutions tailored to each challenge.
Frequently Asked Questions
Do you have questions about our Comprehensive Building Insurance?
Comprehensive Condominium Insurance is a policy designed to protect condominium buildings against damage that may affect the building’s structure, common areas, and the condominium association’s liability to third parties.
It is designed for residential, commercial, or mixed-use buildings managed under a homeowners' association.
Depending on the policy you purchase, it may include coverage for:
- Fire in the building and common areas
- Third-Party Liability
- Water damage and leaks
- Broken glass
- Theft in common areas
- Damage to electronic equipment
- Elevators and freight elevators
- Boilers and water heaters
- Electrical damage
- Extraordinary expenses due to claims
The roofing solutions can be customized to suit the specific characteristics and needs of each building.
Yes. In the City of Buenos Aires and other jurisdictions, there are regulations that require building associations to have certain types of coverage, particularly fire and liability insurance.
In addition, the administrator must keep the policies in force as part of their legal obligations.
The contract is entered into by the consortium, typically through the building manager, who acts as the legal representative of the condominium.
A lack of coverage or an inadequate policy can result in:
- Unexpected expenses for homeowners
- Neighborhood disputes
- Legal claims
- Legal issues for the administrator
- Delays in repairs and compensation
Having an up-to-date policy helps prevent disputes and provides financial protection in the event of a claim.
Comprehensive Building Insurance may cover claims for damage or accidents occurring in the building's common areas, such as:
- Falls on stairs, hallways, or walkways
- Elevator incidents
- Damage caused by leaks or burst pipes
- Accidents related to building maintenance
- Incidents occurring in garages, multipurpose rooms, or shared areas
This coverage helps protect the homeowners' association against unexpected expenses and claims arising from the use and operation of the property.
Comprehensive Homeowners' Insurance primarily covers:
- Building Structure
- Common areas
- Shared facilities
- Assets declared by the consortium
Personal property and the interior of each living unit typically require supplemental home insurance, such as Hanseatica Family Combined Insurance from Hanseatica.
It is recommended that you periodically check:
- Insured amounts
- Mandatory coverage
- Supplementary coverage
- Building Maintenance Status
- Structural changes or expansions
- Exclusions and deductibles
An inadequately sized policy can result in underinsurance and affect the response to a claim.
In the event of an incident, it is recommended that you:
- Contain the situation and prevent further damage
- Document the incident with photos or videos
- Notify the insurance company within the specified time limits
- Gather documentation and quotes
- Coordinate the inspection of the incident
Acting quickly makes it easier to handle the claim and speeds up the resolution process.
If you need to report an incident in the building, you can start the process in our Report an Incident.
Because it protects the building's common property, helps manage common risks, and provides financial and legal support in the event of unforeseen circumstances.
In addition to providing coverage in the event of a claim, adequate insurance helps foster harmony and predictability within the homeowners' association.
More insurance solutions to protect your assets
Family Package Insurance
At Hanseatica, we are committed to taking care of what you value most. That´s why we provide you with a solution for your home with the broadest coverage, giving you the peace of mind you need to live with confidence and security.
Liability Insurance
Professional Civil Liability Insurance for Condominium Administrators is designed to mitigate the risks associated with your professional activity and protect you against potential claims arising from errors, omissions, or unforeseen events in the performance of your duties, thereby ensuring your peace of mind and that of those who rely on you.