Insurance

INSURANCE COVERAGE INFORMATION (aka INSURANCE DISCLOSURE)

Once a year, most mortgage lenders require that borrowers provide them with proof that the association has a master property, casualty, fire, and liability insurance policy in force. The requirement can be satisfied by providing them with this proof of insurance document. Note that the master insurance policy does not cover the following items:

• Personal property and contents, e.g., furniture, clothing, electronics, collectibles, etc.

• Upgrades beyond original materials, e.g., granite counters, hardwood floors, premium blinds, etc., collectively known as betterments

• Loss of use, payment for relocation expenses should you have to live elsewhere while your unit it being rebuilt

• If you are a landlord, lost rent if there is a fire and your tenant is displaced

• If you are a tenant, your personal property and contents

Please contact your personal agent to discuss the costs and benefits of getting coverage for the items listed above and other risks that may not be covered by our master insurance policy. 

Finally, note that although we do carry earthquake insurance (through May 8, 2025) you could still be at risk of a significant earthquake loss assessment should there be a damaging earthquake. Read this presentation to understand why, then visit the California Earthquake Authority's (CEA) website and click on Insurance Policies > Condominium > Condo Coverages & Deductibles for more information about your risks and the various products the CEA offers to cover them.