Dear Hermitage Meadows Homeowners,
Please note that the HOA’s master insurance policy deductible will be increasing from $10,000 to $25,000 effective October 1, 2024. Please make your personal insurance agent aware of this change, as your personal homeowner’s insurance policy’s loss-assessment coverage may need to be increased.
All homeowners must maintain personal homeowners’ insurance policies (often referred to as HO-6 policies). These policies should cover betterments & improvements, contents, loss assessments, etc. Homeowners’ personal HO-6 insurance policies need to include at least $25,000 of loss-assessment coverage. The difference in cost to increase loss-assessment coverage from $10,000 to $25,000 should be minimal.If your lender needs proof of insurance coverage for the HOA, you will need to make arrangements to have a Certificate of Insurance (COI) sent to them. To request a Certificate of Insurance, please email Robins Insurance Agency at certificates@robinsins.com. Lenders will typically request proof of insurance coverage for the HOA annually.
If you have any questions, please email us at hermitagemeadowshoa@gmail.com.
DISCLAIMER: This notice does not contain, extend, modify, or explain all the clauses, conditions, exclusions, or amounts of coverage under the HOA’s insurance policies. Please contact Robins Insurance Agency if you have any specific questions regarding coverage.
