Posted over 3 years ago. 0 helpful votes,
Please keep in mind these steps to ensure the best coverage for you, your home or your association.
- Get Insurance agent to obtain quotes from different insurance carriers.
- Require your Insurance agent to prepare a written summary sheet of all your insurance coverages.
- Require your Insurance agent to provide you copies of all insurance policies and make sure those policies have the lowest dedcutible possible with replacement coverage.
- If possible, create a seperate reserve fund for future losses, emergency repairs and rising insurance costs.
- Establish an emergency operations location from which the Board will meet and operate in the event of a disaster.
- DO NOT allow your Insurance Company to hold past hurricane claims against you. According to Florida Statute, hurricane claims are "Acts of God" and they are not your fault.
- Identify qualified professionals, roofers, electricians, tree removal services, construction managers and water and mold remediation companies before a natural disaster strikes.
- Secure a line of credit for your Association.
- Develop a prepardness plan for any natural disaster. Make copies of insurance policies, an inventory of Association property, all emergency contact numbers of unit owners, and designate a community leader to be responsible for communicating with all owners.
- Do not be fooled by purchasing cheap insurance. Make sure your deductible is low, you have replacement coverage, ordinance and lawn coverage, and special assesment loss coverage.
