Information Regarding St. Augustine Place Condo Association:
For certificates of insurance please email:
info@dreherinsurance.org
The association's insurance policy provides property coverage
for your condo/unit (structure).
*Your unit is covered based on original condominium/unit plans.
Example: fixtures, cabinets, floor and
appliances would be replaced with new items of like kind and quality
to those originally installed. Any
upgrades/betterment's/improvements are NOT covered by the
association’s policy, and this includes upgraded
carpeting, wall and floor coverings, cabinets and other permanently
installed fixtures.
*The property insurance policy is written under “Special Form”
coverage. Perils insured include: fire,
lightening, windstorm, hail, explosion, riot, aircraft and vehicle
damage, smoke, vandalism, falling objects,
weight of ice, snow or sleet, collapse, sudden water escape from
plumbing and frozen pipes.
*No coverage is provided for wear and tear, deterioration, settling
or cracking of foundation, walls, basements
or roofs. These events are classified as maintenance issues. In
order to have coverage for resulting water
damage from a roof leak, there would need to have been damage to the
building from a covered peril, such as
windstorm damage to the roof which caused resulting water damage to
the inside.
Water damage resulting
from seepage of surface waters is excluded from the master policy.
Information Regarding Condo Unit Owner’s Insurance:
The association’s master insurance policy will not respond with
coverage until the damage exceeds the property
deductible.
Each unit owner is responsible for this deductible.
Each owner should purchase an HO-6
Condominium/Unit Owner’s policy. This type of policy will provide
insurance coverage which will
complement the association’s master policy.
Recommended coverages for your HO6 policy:
The Association’s Master Insurance Property Deductibles:
$10,000 all losses per occurrence
besides water damage
$25000 Per Unit Water Damage and Sewer Back Up
Real Property: any improvements or betterments~ upgrades
made to your home after the original sale.
Personal Property: for your contents and personal belongings
Loss Assessment: protecting you in the event a special assessment
is imposed by the association
because the master policy limits were exceeded
Loss of Use: in the event that you need to live elsewhere
when a covered loss renders your unit
uninhabitable Personal Liability Protection: liability protection
for you personally against claims from third parties
alleging bodily injury or property damage.
Sewer/Water Backup Coverage
Renters and Investor Owners also need to purchase insurance
coverage. Both need to protect their liability
exposure and need coverage for loss to personally owned property.
Renters should carry a HO4 policy;
Investors should carry a Dwelling/Fire policy.
Non occupied units should have adequate insurance coverage
while your unit is vacant.
If you do not understand this information please call: 678.205.0224
You can also have your personal insurance agent call us to review on
your behalf.