Insurance-Protecting You and Your Home

The Association has the following policies in place for the benefit and protection of the Association and its members: Property (Including Equipment Breakdown), General Liability, Non-Owned Auto Liability, Crime/Fidelity, Directors and Officers Liability and in some cases, Workers' Compensation.  

Of these, the most asked about coverage is Property insurance. The Association's Property policy provides coverage according to the Governing Documents of the Association as well as any applicable state law. These documents stipulate that the Association policy shall provide coverage for the General Common Elements as well as the interior Unit finishes, fixtures and built-in appliances, but that interior coverage is limited to original building standard / specifications. 

The Association Property policy has a standard deductible of $25,000. Other deductibles include All Wind/Hail – 3% of the Total Insured Value of the property. All deductibles listed are Per Occurrence and not Per Unit

The Property coverage provided on the Association's policy is at replacement value with no depreciation unless damaged items are not repaired or replaced, in which case depreciation can and most likely will be withheld. 

You should report all possible claims to the property manager via the portal (general request-->homeowner general question) or customercare@worthross.com. They will coordinate with our claims department to notify the insurance company.  If the claim involves the inside of any unit, the unit owner should also contact their personal insurance agent.

Note: If the cost of a loss is below the deductible threshold, the Association is not required to file a claim under its policy. In such cases, responsibility for repairs falls to the party who would typically handle them without insurance. The Maintenance Responsibility Chart, available in the portal, outlines who is accountable for specific repairs.

Certificate requests can be made by emailing HOAcerts@alliant.com.  Once processed, each annual renewal certificate will automatically be sent out with the same delivery method. 

You are required to obtain your own insurance coverage for personal property and contents, as well as individual coverage for your own personal dwelling and its contents. The Association's insurance does not cover accidents within your unit or damage caused by theft, loss, floods, or other casualties. The HO6 Policy is the typical form used for condominiums.  

To help you explore coverage options and available endorsements, we've compiled key information. However, you should consult a licensed insurance agent to determine the most suitable policy for your needs.

If you are leasing your unit, be sure to ask your insurance agent about coverage for any personal property within the unit. Additionally, renters insurance is recommended for your lessee to ensure they have adequate protection.

The amount of insurance coverage needed varies, so it's important to discuss the appropriate level of property and building coverage with your insurance agent. Key considerations include:

• Interior finishes – Your policy should cover the cost of replacing all original construction, finishes, fixtures, and installed appliances in your unit.

• Improvements and upgrades – The Association's insurance only restores the unit to its original condition, so you may need additional coverage for any upgrades or renovations. Check with your real estate agent to determine if your unit included any of these when you purchased your unit. 

• Personal property and valuables – Many policies have sub-limits on items such as jewelry, firearms, artwork, and collectibles, typically around $2,500. If you own high-value belongings, consider purchasing extra coverage to protect them adequately.

You should ask your agent whether any of the following are included in your policy or if they can be added as endorsements or separate policies.

• Loss assessment coverage—this will cover you should the loss not meet deductibles in the Association’s Master policy. You and your agent should look at the Association policy deductibles for wind, hail, water and All Other Perils (AOP). Heavy damages from these perils could result in a significant assessment to you for repair.  Information on the Association’s deductible can be found on the Certificate of Insurance posted on the portal.

• Special form coverage—if available, this coverage covers an expanded list of perils over what is covered on the Basic or Broad form policies.

• Additional living expense—this coverage includes loss of use and extra expense if you are not able to live in the unit during repairs and the cost of temporary housing. You should ask your agent about temporary housing coverage for a period of possibly one year in case of significant damage.

• Loss of income coverage—if you are leasing your unit, this coverage would normally compensate the owner for loss of rent if your unit becomes unhabitable from a covered peril.

• Sewer backup; water seepage coverage; special assessment coverage; and/or Peril deductible coverage

• General liability coverage—This coverage provides financial protection against claims and lawsuits for bodily injury or property damage that you or members of your household may accidentally cause to others. Owners should consult with their agent about the appropriate coverage

• Umbrella policy—provides additional coverage beyond the limits or your other insurance policies, such as the HO6 and/or auto policies. You should consult with your agent for a recommendation on adequate Umbrella Policy coverage.