|
The insurance policy is with:
United Insurance Group
Benchmark Insurance Company
1930 Lake Street West
Wayzata, MN 55391
Agent:
Do Right Insurance
801-352-7100
Deductible: $10000
roofs are excluded under the policy
Under Utah law 57-8-43 and 57-8a-405, the HOA must insure the entire building, not just sheetrock in and not including personal property. These laws supersede anything to the contrary written in the CC&Rs. In the event of a loss, the owner must cover the HOA policy deductible. Each owner can either pay for this themselves or get a "Unit Owner" policy (called an HO-6) to cover the HOA deductible in the case of a loss.
We recommend each owner carry:
- Personal property insurance
- Endorsements
- sewer back-up endorsement
- loss assessment endorsement
Detailed Insurance Information from our old carrier, American Family Insurance, regarding insurance coverage. Although some of this information is no longer applicable (earthquake and property coverage and amount of deductible), there is still good information about an HO-6 policy, recommendations and an explanation of Utah law.
|
