Insurance Information

The duties to purchase insurance are detailed at Condominium Bylaws Article IV.  Every co-owner should consult with their own insurance agent concerning their personal insurance needs.  Generally speaking, each co-owner should investigate obtaining an HO-6 Condominium Owners Policy.  Additional coverage’s will be needed beyond the insurance provided by the Association, especially with respect to alternate/additional living expenses, contents, betterments and improvements, alterations and additions and sewer back up.  The Association is not responsible for cleanup or damage inside the unit caused by sewer backup.  Co-owners are responsible for all basement drywall, regardless of the cause of damage.

The Insurance Agency for the property owned by River Pines of Farmington Condominium Association is the Piper-McCredie Agency, Inc.  The policy provides the hazard insurance on the buildings for the structures as they came originally equipped including improvements and betterments made by the owners.  Liability coverage is also provided for the common areas.

If you have a mortgage on your unit, your mortgage company may request a proof of insurance on the building.  You may request one online or by calling the office at 1-800-333-0983, or by having the mortgage company fax the request to 1-810-767-7323.  They will be sent verification of coverage within 48 hours.

As a unit owner, you should have purchased a separate Condominium Unit Owners Policy, which in insurance terms is called a HO-6.  This protects you personally for your contents and liability.  A limit of at least $2,500 should be provided for your improvements and betterments, as you will be responsible for the Association's deductible for these items.  You should purchase the "Special Coverage" Form, not "named peril" form.  Piper-McCredie also suggests an extension endorsement that would provide coverage for the loss of refrigerated products and the backing up of sewers.  If you are not sure if your policy provides these coverages, speak to your homeowner's insurance agent.

The agent for Piper-McCredie that handles our account is Thomas Dawson, assisted by Teri McConnell.

The video below is a brief explanation of insurance considerations when living in a condominium

 

Piper-McCredie Agency, Inc
5454 Gateway Centre Suite A
Flint, Michigan 48507
 1-800-3330983
March 17, 2011
All River Pines Co-Owners
Re:Condominium Association Insurance
Dear Co-Owner
This letter is to re-introduce Piper-McCredie Agency, Inc. as the Insurance Agency for the property owned by River Pines of Farmington Condominium Association.   We will continue to strive to do our best to service your needs.
Our policy provides the hazard insurance on the buildings for the structures as they came originally equipped including improvements and betterments made by co-owners.  Liability coverage is also provided for the common areas.
If you have a mortgage on your unit, your mortgage company may request a proof of insurance on the buildings. Rachel Rivera is the person assigned to provide information to mortgage companies.  If you receive a request, just give Rachel a call at her direct number, 1-810-600-2378, or have your mortgage company fax their request to Rachel at 810-767-7323.  They will be sent verification of coverage within 48 hours.  Your mortgagee company can also go to the Piper-McCredie’s web site at www.pipermccredie.com to obtain the form to complete.  This form can be e-mailed to Rachel at rrivera@pipermccredie.com.
You, as a unit owner, should have purchased a separate Condominium Unit Owners Policy, which in insurance terms is called a HO-6.  This protects you personally for your contents and liability.  A limit of at least $2500 should be provided for your improvements and betterments, as you will be responsible for the Associations deductible for these items. This coverage is called “building or dwelling” by most insurance companies.  You should purchase the "Special Coverage" Form, not the "named peril" form.   We also suggest an extension endorsement that will provide loss of refrigerated products and backing up of sewers and drains. If you are not sure if your policy provides these coverage’s, you need to speak to your homeowner’s agent.
I will be servicing your account.  If I am not available, you can speak with Thomas M Dawson, the agent on the account.  Our business hours are 8:00 a.m. to 5:00 p.m.  Please feel free to call us at any time if you have any questions 
Sincerely,
Teri J McConnell CISR


 


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