Sequoyah Condominium

What is the difference between my Homeowners’ Policy and the community’s Master Insurance Policy? Your Homeowners’ Policy covers your liability in the event an owner/owner component causes damage to your home. In addition, it can cover your personal belongings, upgrades that you have done to your home, and housing if you cannot stay in your home. The Master Insurance Policy is in addition to your Homeowner’s Policy. It covers damages to adjacent homes, roof, and building structure.

 

Is there a difference between my Homeowners Policy deductible and the Master Insurance deductible? Yes, your policy deductible is the amount you would pay up to when you submit a small claim to your insurance. The Master Insurance deductible ($25,000) is the amount required that your policy covers in the event there is a claim over $25,000.

 

Will I need to tell my Homeowner's insurance policy to increase my Deductible to $25,000? No. You will have to contact your agent/broker and inform them that the Master Policy deductible has been increased to $25,000 and to make sure that your policy would cover the Master Policy deductible in the event that you or your unit components cause the claim. 

 

Does the HOA insurance cover upgrades in my unit? No. Your Homeowner’s policy would cover upgrades. The Master Policy would only cover to rebuild the home to the original specifications.

 

How will the insurance company be able to tell if I have any upgrades? Once a claim is submitted, an adjuster would physically inspect your home for upgrades. You can also provide your insurance documentation of upgrades beforehand to ensure you have adequate coverage.

 

What type of coverage will I need my broker to increase to $25,000? It is considered Liability, but please communicate to them that it is specifically to cover the Master Insurance deductible in the event a claim is $25,000 or more.

 

· Residents are required to place their trash outside between the hours of 5am-8am on Mondays, Wednesdays, and Fridays. Please do not place your trash outside after 8am. It will not be picked up.

· All trash should be bagged in plastic drawstring bags. Please do not place loose trash in your trash bins. It leads to spills.

· Only flattened cardboard boxes will be picked up. All other recyclable material must be placed in the marked recycling bins by the trash dumpsters.