Property Management Insurance Concerns
Common interest communities include multiple insurance exposures. As members of a Corporation and resulting from shared common area ownership and attached homeownership, Owners must be concerned about shared liability for property damage and personal injury claims.
For these reasons, it is imperative that every homeowner have a homeowner policy for the full (100%) replacement cost for their homes and the potential damage that may be caused to their neighboring property as well as coverage for personal injury that may result on their property or on the common area.
In order to keep our files current, the Board of Directors requests that each Owner provide evidence of insurance by submitting a copy of their insurance certificates to Schrank & Associates, Inc., P.O. Box 186, Orland Park, IL or by faxing a copy to 708–349–3166. Owners should advise their insurance brokers to submit this information automatically at the time of renewal of their insurance policy.
This procedure is a critical step in protecting the property values within the Crystal Tree Homeowner’s Association.
These requirements are incorporated in the governing documents. We wish to thank you for your efforts in meeting these requirements.
SCHRANK & ASSOCIATES, INC.
|
