We shop all the markets to get the lowest price with the right coverage and limits required by the CC&Rs. We NEVER charge “administrative” or broker fees like many other agents do.
We NEVER charge broker or administrative fee, which many other agencies do. By not charging these additional fees, we can get the lowest price from the carrier, providing you with the best value for your dollar. Here too, we shop all the earthquake markets to get the lowest price year after year.
There are a variety of benefits an owner can take advantage of when their individual policy (H06) is held with the HOA agent, including but not limited to:
1.The HOA agent can reduce the policy premium by only opting for necessary coverage since they have read the CC&R.
2.Convenience with claim filing, as there will be no finger pointing involved with two different carriers
3.A unit owner carries the clout of the HOA behind you for customer service – When you say jump, we ask how high?!
If you require an HOA/Condo Insurance evidence of insurance, simply click the “resources” tab and visit the certificate of insurance page. Then follow the instructions to retrieve your certificate.
We can provide this policy to the unit owner, or they may contact another agent. It is important to know that not many agents read the CC&Rs, but at Scott Litman Insurance Agency, we specialize in CC&R review to ensure that our clients have the right coverage and are not over or underinsured.
The CC&Rs will clearly explain the HOA and owner’s responsibility to insure. It is important that your agent reads their CC&Rs to prevent over or underinsuring. It is important to note that maintenance responsibilities are different than insurance duties.
HO6 policies cover the following items that are not covered by the HOA:
1. Personal Property
2. Personal Liability (e.g. leaks affecting neighbors Units)
3. Temporary Living Expenses (e.g. should you need to vacate the premises should a covered loss occur)
There are multiple carriers that offer individual Earthquake insurance. Here are the coverages:
1.Earthquake Loss Assessment: This will apply to the HOA’s deductible if there is an HOA policy, or it will apply to the damages if there is not an HOA policy.
2.Personal Property
3. Hotel
4.Real Property – upgrades by the owner to the unit.
Ask us for a quote at lwilliams@sliains.com
