Insurance Info

For information regarding the associations insurance, please contact:

Bill Johnson

The HOA has a blanket insurance policy which covers the units. But, because of the age of the units, insurance companies have gone to issuing policies with higher deductibles which reduces the cost of repairs to the insurance company. The payment of any deductible is the responsibility of the homeowner. Our deductible is $10,000.

In other words, if a tree were to fall on your home and the damage to your home did not exceed the $10,000 threshold, you would be responsible for the cost of the repairs. If the damage exceeded the $10,000 threshold, our insurance would cover any costs over and above the $10,000 deductible.

If multiple units were involved in the damage, the deductible would be divided among the owners.

Prior to reporting a loss under the association’s insurance policy, the owner is required to report the loss to the association and give the association 10 business days to provide the owner with a written decision whether the association will be reporting a claim to the master policy. It is mandatory that you purchase insurance that covers the $10,000 deductible for building coverage and loss assessment coverage. This should be included in the insurance policy that you purchase to cover your personal possessions.