ASSOCIATES
October 22, 2014
Unit Owner at Villa on Eaton Square
400 Hobron Ln
Honolulu, HI 96815
Mandatory H06 Coverage – Please Respond by January 1, 2015
We at Insurance Associates would like to introduce ourselves as the agent for Villa on Eaton Square’s master insurance policy. As you may be aware, Villa on Eaton Square requires that each owner have homeowners insurance. Here are the minimum limits required by your Association:
Dwelling (upgrades & AOAO deductible): $10,000
Liability: $300,000
Contents: Optional
Loss Assessment: $5,000
We recommend that you discuss these limits with your insurance agent, since these are the minimum requirements and may not reflect the actual coverage you need.
To satisfy this requirement, we have been tasked with securing proof of your homeowners insurance policy for your unit at Villa on Eaton Square, #[unit]. This can consist of either the declarations page of your policy or a certificate of insurance. Your insurance agent will be able to provide this information to us directly if you send them this letter and request their assistance.
Please submit proof of insurance before 1/1/2015, Submissions can be made by fax, email, or regular mail to our HOG tracking department at:
Fax Number: 808-792-5359
Email Address: ho6@insuringhawaii.com
Mailing Address: 800 Bethel St #200, Honolulu, HI 96813
Because Villa on Eaton Square requires continuous coverage, we will need proof of insurance on an annual basis. To avoid annual requests, you may consider adding Villa on Eaton Square as a “certificate holder” supplying our mailing address above. Your carrier will then automatically notify us when your policy is renewed each year. Please discuss this option with your insurance agent.
If you do not already have a homeowners insurance policy, you may wish to purchase one from our office. A basic homeowners policy, with the minimum required limits listed above, could cost you as little as $200 annually. If you have any questions or would like a quote, please contact Cedric Chang at 808-526-9284 or Brad Ho at 808-5269285.
If you do not purchase your own policy, or submit proof of existing coverage by 1/1/2015, the Board of Directors may purchase a policy on your behalf, and your association’s property management company will place this charge on your account.
If you would like to confirm that we have received your proof of insurance, please contact Rudy Savio at 808-5269266.
800 Bethel Street, Suite 200 Honolulu, Hawaii 96813
tel 808.538.6938 fax 808.531.8361 neighbor island 1.888.867.7671 [toll free]
www.insuringhawaii.com
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MASTER POLICY/HOMEOWNERS COVERAGE
The master condominium policy insures:
All of the above items are covered as originally built.
Subject to the Association deductible the building is covered for perils like fire, lightning, windstorm, vehicle damage, water overflow, smoke damage, etc. Water overflow claims are covered for damage to the building but not your personal property.
A Homeowners Policy insures:
An individual homeowner’s policy is necessary to fully protect you and your unit. You cannot rely on just the master policy. If you have fire or hurricane damage, the master policy will take care of items as originally built. Your homeowner’s policy will take care of your household goods and cover the expense for you to live elsewhere while we rebuild your unit. Call your agent today and discuss your insurance needs.
If you have a claim please report all matters to the property manager and/or general manager. An incident report will be made and forwarded to the insurance company.
If you receive a letter from your mortgage company please fax the letter directly to Insurance Associates at (808) 792-5371 so that they can send the needed information to your mortgage company.
If you were to rent your unit to others, you still need to insure any improvements to your unit, the contents, if furnished, your rental income and your personal liability. You should also advise your tenants that they may need to insure against damage to their possessions as neither your policy nor the Association’s policy will provide coverage.
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