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SOCIETY INSURANCE SERVICES

Statutory and essential insurance coverage for the protection of Co-operative Housing Societies, their members, and assets

Building Insurance
Liability Coverage
Health & Life

Comprehensive Society Insurance Services

Insurance coverage is a statutory and essential requirement for the protection of Co-operative Housing Societies, their members, and assets.

Legal Requirement

Under the Model Bye-Laws (Bye-law 159), it is mandatory for every society to obtain and maintain suitable insurance policies for buildings, property, and liabilities.

Raaj Society Solutions assists societies and members in selecting, evaluating, and obtaining legally compliant insurance policies that safeguard financial, structural, and legal interests.

Building Insurance

Mandatory coverage for society buildings and common areas

Public Liability

Protection against third-party claims and injuries

Committee Liability

Coverage for management committee decisions

Health & Life

Comprehensive coverage for members and staff

1
Assessment
Evaluate society insurance needs and requirements
2
Recommendation
Suggest appropriate insurance policies and coverage
3
Implementation
Assist with policy selection and documentation
4
Support
Provide ongoing support and claim assistance

Our Insurance Services

Comprehensive insurance solutions for co-operative housing societies

A

Life Insurance

We assist members and employees in obtaining appropriate life insurance coverage to ensure financial protection for families in cases of death, accidents, or unforeseen events.

Our Guidance Includes

  • Term life policies
  • Group policies for staff or security personnel
  • Mortgage protection plans
  • Nomination compliance and documentation

All policies are recommended in alignment with legal and financial safety considerations.

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B

Health Insurance

Health insurance is crucial for ensuring medical security of members, committee members, and employees.

Our Support Includes

  • Individual & family health plans
  • Group medical policies for staff
  • Senior citizen health cover
  • Cashless hospitalization and claim assistance

Our advice is based on IRDAI guidelines and statutory welfare norms.

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C

Society Building Insurance

As per Bye-Law 159, every Housing Society is legally required to insure its building against various risks and damages.

Coverage Required

Fire, Earthquake, Flood, Lightning, Structural damages, Natural calamities

We Assist In

  • Assessing building valuation
  • Selecting appropriate coverage
  • Ensuring inclusion of lift, water pumps, electrical systems, compound walls, and common areas
  • Claim processing assistance

This protects the society from major financial liabilities and rebuilding expenses.

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D

Public Liability Insurance

To safeguard the society against claims arising from accidents or injuries occurring in common areas.

Coverage Includes

  • Third-party injuries
  • Damage to third-party property
  • Legal liabilities and compensation claims

This is especially important for societies with public visitors, vendors, or external contractors.

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E

Board of Directors Liability Insurance

Committee Members may face legal action or financial claims for decisions made in their official capacity.

Protection Coverage

  • Legal claims
  • Wrongful acts alleged during management
  • Errors in decision-making
  • Negligence-related liabilities

This coverage is increasingly recommended as per good governance practices in co-operative management.

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F

Many More Insurance Solutions

Raaj Society Solutions also provides assistance in various specialized insurance policies for complete protection.

Additional Services Include

  • Lift Insurance
  • Fire & Burglary Insurance
  • Common Area Equipment Insurance
  • Workers Compensation Insurance
  • Group Accident Policies
  • Society Office Equipment Insurance

These policies ensure complete protection of society assets, finances, and legal responsibilities.

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Why Choose Our Insurance Services?

Professional expertise and commitment to excellence in housing society insurance solutions

Expert Advisors

Our insurance advisors are qualified professionals with decades of experience in housing society insurance requirements.

Legal Compliance

All insurance recommendations are based on current Maharashtra Co-operative Societies Act and Bye-laws requirements.

Cost-Effective Solutions

We help societies find the best insurance coverage at competitive prices without compromising on protection.

Claim Assistance

Comprehensive support throughout the insurance claim process to ensure timely settlements.

Protect Your Society with Comprehensive Insurance

Contact us today for professional insurance advisory services tailored to your housing society's needs.

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