Sunday, October 30, 2005
New link
To reach the new dialog website, click on "talkkenthill" under the Links section (left hand sidebar).
Tuesday, October 18, 2005
The Association Insurance Policy & The Individual Owner's Insurance Policy
Kenthill Townhomes is insured by C.A.U. [Community Association Underwriters, Inc.] C.A.U. provides Kenthill Townhomes with its master insurance policy for our condominium complex. The following are brief excerpts from a two page fact sheet from our 2005 policy:
"Welcome to C.A.U.’s Association Master Insurance Policy. This two page fact sheet is designed to assist you in purchasing your own insurance, filing claims, and ordering certificates of insurance.
Key information regarding the Association's master policy:
1. The common elements, limited common elements, and units are covered.
2. Improvements and betterments upgrades made at the expense of current or previous unit owner are covered this. This would include, is not limited to, upgraded carpeting, cabinets, and appliances. Wall coverings, built-in bookshelves and the other permanently installed fixtures are also included.
3. “Special Form” coverage, which include fire, lightning, windstorm, hail, explosion, riot, aircraft and vehicle damage, smoke and, vandalism, falling object, weight of ice, snow or sleet, collapse, sudden rapid water escape or overflow from plumbing or appliances, frozen pipes, and convector units.
4. No coverage is provided for wear and tear, deterioration, damaged by insects or animals, settling or cracking of foundation, walls, basements or roofs. There is no coverage for damage caused by repeated leaking or seeping from appliances or plumbing. This includes leaking from around the shower, bathtub, toilet or sink. These events are properly classified as maintenance items. The policy contains full details on coverages, limitations and exclusions.
Key information regarding unit owner’s insurance needs:
1. You need a condominium owners policy, also known as an HO-6, to pick up coverage for your personal property, furniture, additional living expenses (in the event your unit is uninhabitable due to a covered claim), and personal liability.
2. The Association master policy carries a deductible. In the event a claim, the Association may seek to recover the deductible from unit owners involved in the claim. Your obligation to pay the deductible may be offset by your HO-6, subject to your own deductible, if you add building coverage. Some insurers cover the claim under loss assessment. Ask your personal insurance agent."
"Welcome to C.A.U.’s Association Master Insurance Policy. This two page fact sheet is designed to assist you in purchasing your own insurance, filing claims, and ordering certificates of insurance.
Key information regarding the Association's master policy:
1. The common elements, limited common elements, and units are covered.
2. Improvements and betterments upgrades made at the expense of current or previous unit owner are covered this. This would include, is not limited to, upgraded carpeting, cabinets, and appliances. Wall coverings, built-in bookshelves and the other permanently installed fixtures are also included.
3. “Special Form” coverage, which include fire, lightning, windstorm, hail, explosion, riot, aircraft and vehicle damage, smoke and, vandalism, falling object, weight of ice, snow or sleet, collapse, sudden rapid water escape or overflow from plumbing or appliances, frozen pipes, and convector units.
4. No coverage is provided for wear and tear, deterioration, damaged by insects or animals, settling or cracking of foundation, walls, basements or roofs. There is no coverage for damage caused by repeated leaking or seeping from appliances or plumbing. This includes leaking from around the shower, bathtub, toilet or sink. These events are properly classified as maintenance items. The policy contains full details on coverages, limitations and exclusions.
Key information regarding unit owner’s insurance needs:
1. You need a condominium owners policy, also known as an HO-6, to pick up coverage for your personal property, furniture, additional living expenses (in the event your unit is uninhabitable due to a covered claim), and personal liability.
2. The Association master policy carries a deductible. In the event a claim, the Association may seek to recover the deductible from unit owners involved in the claim. Your obligation to pay the deductible may be offset by your HO-6, subject to your own deductible, if you add building coverage. Some insurers cover the claim under loss assessment. Ask your personal insurance agent."
Saturday, October 01, 2005
Swimming pool repairs
The swimming pool is in need of repair. Pieces of the lining of the interior have come off. The pool will be drained so that the areas which have failed can be patched. When the repairs are completed, the pool will be refilled and the areas in question will continue to be observed throughout the next few months.
Special assessment defined
What is a Special Assessment?
By: Robert M. Nordlund, P.E., R.S. January, 2004
A Special Assessment is an unplanned, special tax levied upon the members of an association. Sometimes a special assessment comes about due to misfortune (in order to meet a large insurance deductible or a non-insured loss), or due to poor planning (failing to set aside sufficient funds in advance for a predictable expense).
A special assessment can be a single demand by the association for a lump sum, or it can be an amount spread over multiple payments to provide owners with some payment flexibility. Some associations even provide a small discount if the total is paid in full in advance.
By: Robert M. Nordlund, P.E., R.S. January, 2004
A Special Assessment is an unplanned, special tax levied upon the members of an association. Sometimes a special assessment comes about due to misfortune (in order to meet a large insurance deductible or a non-insured loss), or due to poor planning (failing to set aside sufficient funds in advance for a predictable expense).
A special assessment can be a single demand by the association for a lump sum, or it can be an amount spread over multiple payments to provide owners with some payment flexibility. Some associations even provide a small discount if the total is paid in full in advance.