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Unit Owner Insurance Responsibilities (Provided for information purposes only; See Article VIII - Paragraph (H) Mandatory Insurance Coverage of Unit Owner of the Fourth Amended & Restated Master Deed;
Homeowners should obtain a Homeowners Insurance Policy; FORM HO-6.
The types of insurance included in this policy form that a Unit owner requires are:
Coverage A - Dwelling Coverage
- Additions and Alterations coverage such as the cost of: Upgraded cabinets and counters, upgraded floors and window coverings, interior and exterior doors, storm doors, screens, awnings, aftermarket covered porches/sunrooms.
- Interior improvements provided by unit owner such as shelving, additional trim and molding work, additional cabinets (Include improvements made by previous owners)
- Any unit owner provided, upgraded, mechanical systems replacement of air conditioners, heating systems, water heaters, garage door openers, appliances, etc. (These items are unit owner maintenance responsibilities.)
- Master Policy Deductible of $5,000: Tell your agent that under certain circumstances you are responsible for payment of the Master Policy deductible. Be sure to obtain written confirmation that your policy covers payment of the Master Policy Deductible ($5,000).
- THIS MAY BE A SEPARATE ENDORSEMENT TO BE ADDED TO YOUR POLICY.
Coverage C – Personal Property
- Covers all unit owner’s personal property and electronics such as televisions, etc.
Coverage D – Loss of Use
- Covers additional living expenses. If you cannot live in your unit due to a loss be sure to have enough coverage for up to a year of living expenses.
Coverage E – Personal Liability
- Unit owners should maintain Liability coverage to cover guests while they are on the property. Minimum REQUIRED single limit combined single limit of $500,000 coverage for property damage and for injury to persons
Coverage F – Medical Payments to others
- Covers accidental coverage for third parties injured on the premises
Additional Recommended Coverage: Loss Assessment Coverage
- This covers your portion of any ASSOCIATION WIDE Special Assessment levied against your unit related to an insured loss. This coverage DOES NOT cover any portion of the $5,000 Association Master Policy Deductible discussed above.
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