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."
