Do You Really Know What Your Residential Complex's Insurance Covers? Fasecolda Reveals Everything You Have Access To
Minimum wage increases push VIS housing towards $300 million Photo: iStock
TL;DR
- Coproprietors must verify their common goods insurance during February-March assemblies.
- The insurance must be current, reflect the real value of the building, and have adequate coverage.
- Colombia has over 43,000 coproprieties with mandatory insurance for common goods, totaling $507 trillion.
- Bogotá leads with $141 trillion in insured value across 12,181 coproprieties.
- Coverage includes structural elements like columns, beams, facades, and essential services like elevators and public utility networks.
- Optional extended coverage includes damages from water, explosion, hail, or civil liability.
- Common goods insurance is for emergencies and unexpected events, not a substitute for maintenance.