8/3/2009

Harbour Towne Condominium Association

Thank you for the opportunity to provide you with an outline of included coverage’s within the master insurance policy underwritten by Philadelphia Insurance Company (A+ Rated).  They are as follows:

*Guaranteed Replacement Cost on buildings and structures.
*Permanently installed fixtures, including outdoor fixtures.
*Unlimited back up of sewer and drain – including sump pumps.
*Personal property owned by the association that is used to maintain or service the buildings or premises.
*Floor, wall, and ceiling coverings
*Pipes, Wires, Conduits, Ducts, Chutes, Flues.
*Improvements/betterments and additions/alterations that are a part of the buildings or structures made to units by the unit owner.
*Appliances used for heating, refrigerating, ventilating, cooling systems, cooking, dishwashing, laundering, security systems or housekeeping.

It is still advised that each co-owner maintain

1. a unit owner’s policy (HO-6) which covers personal property and coverage for third party lawsuits as a result of homeowner negligence (liability), as well as alternative living expenses due to a covered loss. 
2. In addition, it is recommended that a broadening endorsement be attached to this policy that will provide coverage for glass breakage and sewer and drain back up for damage to your personal property. 
3.  Further, a loss assessment endorsement should also be considered in an amount not less than the master policy deductible ($2500).  This protects the owner for their share of any loss assessment made by the association on any property or liability loss which is not covered, or is inadequately covered, by the master policy.
4. We now have a $10,000 deductible on water damage claims.

Pinnacle Insurance Partners can also write personal policies (HO-6) for unit owners living within Harbour Towne.  Insurance coverage can also be provided home, auto, boat, motor cycles, and RV’s.  If you are interested please feel free to contact Ryan Osborn.

*Notable changes to the 12/1/08-12/1/09 term are as follows:

• $10,000 water damage claim only deductible, all other covered losses will still have a $2,500 deductible
• The employee dishonesty coverage limit was increased from $50,000 to $91,200.

Should you have any questions, I would welcome your call.

Sincerely,

Ryan Osborn
Account Executive - Pinnacle Insurance Partners
1439 Monroe nw (ste. 100)
Grand Rapids, Mi  49505

Phone: 616-301-6747    Fax:  616-913-3347    E-mail:  This e-mail address is being protected from spambots. You need JavaScript enabled to view it