This is a quick quiz to see if you are aware of some of the different aspects of your association’s insurance needs. It will also help you determine if you have a broken insurance policy.
- Have you taken into account CEA loss assessment coverage when evaluating your needs? Yes No
- How could CEA loss assessment coverage affect what you pay as an association?
- Have you confirmed that the coverage in your policy reflects the requirements of your CC&R’s? Yes No
- Why would you need to refer to the association’s CC&R’s when purchasing an insurance policy?
- Does your coverage conform to the Davis Sterling Act guidelines? Yes No
- What does the Davis Sterling Act have to do with your association’s insurance?
- What is employee dishonesty coverage?
- Is your property manager covered on your employee dishonesty coverage? Yes No
- If the owners of an association make all of their decisions together, do they still need Directors and Officers coverage? Yes No
- What does Liquor Liability have to do with the protection of your association?
- Our association has no exposure to Liquor Liability because we aren’t a bar. True False
- The lower the insured value of the property, the cheaper your premium will be? So you want to have the lowest number your agent will let you get away with even if you can’t rebuild the building for that price? Yes No
- If a fire breaks out in your complex and damages a majority of the building, all of the common area damage will be covered by our property coverage on your association’s policy? True False
If you find yourself asking more questions than you are able to confidently answer, then I will be happy to review your current coverage for you and see if we can provide you with appropriate coverage that properly reflects what your governing documents require. Just click on the tab below or call me at 888-664-3276.
888-664-3276
