News

Mandatory H06 Coverage

INSURANCE

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

 

Insurance Associates Letter


Homeowners Insurance – Master Policy Coverage

HOMEOWNERS INSURANCE In March, 2008 an Owner’s Insurance Resolution was adopted.  This resolution authorizes the Board of Directors to require individual owners to obtain their own insurance policies.  This resolution also authorizes the Board to assess the Association’s Master Policy insurance deductible (currently $10,000) to the owner(s) who caused damage or units from which the damage or cause of loss originated.  For this reason, it is in the owner’s best interest to have a Homeowner’s Policy that covers, but is not limited to:

  •  Your personal contents and/or household goods
  • Improvements made to your unit by you or a former owner
  • The cost to live elsewhere while your unit is being repaired
  • Loss Assessment
  • Personal Liability

MASTER POLICY/HOMEOWNERS COVERAGE

 The master condominium policy insures:

  • Only the interest of the Association
  • Covers the buildings and items as originally conveyed by the developer
  • Built-in appliances and cabinets
  • Walls that make up the interior of the dwelling
  • Electrical and plumbing fixtures
  • Ceiling and flooring

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:

  • Your personal contents or household goods
  • Your improvements to the dwelling made by you or a former owner
  • The cost to live elsewhere while your unit is being repaired
  • Loss Assessment
  • Personal Liability

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.


Use of the Gym


downloadUse of the Gym

When using the equipment in the gym, please keep in mind the residents in the apartment below. The hours of operation for the gym are from 6:00 a.m. to 11:00 p.m. Please be conscious of the noise factor, especially early in the morning and late at night. Avoid dropping weights on the floor.


The Recreation Deck


downloadThe Recreation Deck

The Villa’s House Rules spell out specifically the rules for use of the Recreation Deck including the wet bar, kitchen, barbeque areas (Section IV, page 5-6). Glass or other kinds of breakable material should not be used, except behind the wet bar. There is no smoking allowed at all. Noise should be kept to a minimum. Residents are responsible for the conduct of their guests and the rules should be followed even if the gathering is not at the wet bar or barbeque areas.


Storage Lockers


downloadStorage Lockers

Long-time residents at The Villa are aware that it isn’t too wise to store valuables in the storage lockers provided to all apartments. Unfortunately these lockers are located in a public area and too easily accessible to everyone. The security staff of The Villa does their best to prevent anyone from breaking into the lockers; however, it is impossible to keep them under surveillance all the time. Therefore, Villa Management would like to remind all residents that valuable items should not be stored in the lockers.