INSURANCE INFORMATION
GENERAL
There are two insurance policies of interest to co-owners: The Association’s insurance policy and the co-owner’s condominium homeowner insurance policy. In general, the Association maintains a blanket policy to cover the buildings and general common elements and the co-owners policy should cover all other property within the units. We have included more detailed information on what is covered below and also refer you to the Condominium Bylaws and Exhibit “B” of the Master Deed so you and your personal insurance professional may better determine the extent of coverage you may require.
ASSOCIATION INSURANCE
The Association Insurance policies are currently serviced by State Farm. Insurance certificates for co-owners and their lenders are available from State Farm, by calling:
734-973-2044
In general, the Association policy covers the common elements for the Association, including the building exterior, perimeter walls, sub-floors, interior walls, fixtures, and cabinets provided as standard equipment (and standard equipment quality) inside the units. Association insurance does not include any coverage for any personal property including upgraded or more expensive fixtures, cabinets, counters, or the optional unit decks* not included in Exhibit “B” of each condominium’s master deed, window coverings, floor coverings including carpet, tile, wood, or any other personal property of any kind. This is in accordance with the building plans on file with the Genoa Township Building Department outlined in Article IV in the Condominium Bylaws. The Association also carries general liability and umbrella liability insurance, which covers the Association against liability claims that occur within the community. Directors and Officers of the Association have liability coverage as well, which is part of the Association policies.
CO-OWNER INSURANCE
It is strongly recommended that all co-owners have a Condominium Owner Insurance Policy. This type of policy is generally referred to as an “HO 6” or Homeowners type 6 policy. This policy should be structured to cover those items not covered by the Association policy inside the units. In general, this would include but not be limited to any upgraded cabinets, fixtures, appliances, electrical fixtures, plumbing fixtures, and all finished basement space including walls and anything within the walls, wall coverings, floor coverings, decks* not included in Exhibit “B” of the Master Deed for each Association, furnishings, clothing, jewelry, etc. Many policies may also include limits for coverage of furs, computers, special electronics, and security systems, but yours may require optional coverage to be fully insured for these items. You should also consider carrying personal liability insurance for your protection from personal injury claims in or near your unit or on the condominium grounds. Please provide this information to your insurance professional so they may help you determine the best amount of coverage for you.