Insurance Update from Scott
Kontiki Phase 1 Owners,
I wanted to give you an update on the insurance. The Board has selected and signed with Commercial Insurance Solutions to provide our blanket insurance for the year. This is the company we had last year and the coverage is almost identical to last year with a few minor updates on the Schedule of Values (list of common element assets - pool, storage building, cabanas). The premium will be very similar to last year as well.
I want to recognize and thank Janet Stakes for diligently working with another insurance provider to bring an additional proposal to the table. With her efforts we were able to have two insurance proposals to review. This brings a great deal of piece of mind that we made the right choice and that we received a good value.
In years past the insurance companies billed the owners directly for the premiums, but due to slow collections last year we are having to shoulder that burden ourselves. Next week Johnson and Cate will be sending out a bill for the insurance premium. We request that this be paid promptly so that we can turn and pay the insurance company. We do not have a financial reserve built up to pay the insurance so we need prompt payment from owners to cover the bill.
Along with the bill you will be receiving a document that you can forward to your mortgage company to verify that we have current insurance. I will also send out a page or two of our by-laws that speak to the coverage of the umbrella policy verses the owner's personal contents policy. This might be the question I receive the most so I thought I would send you what I have and you can read it for yourself.
Feel free to call or email me with any questions, 713-725-3860.
Thank you,
Scott Schomburg
Kontiki Phase 1 Owners,
I wanted to give you an update on the insurance. The Board has selected and signed with Commercial Insurance Solutions to provide our blanket insurance for the year. This is the company we had last year and the coverage is almost identical to last year with a few minor updates on the Schedule of Values (list of common element assets - pool, storage building, cabanas). The premium will be very similar to last year as well.
I want to recognize and thank Janet Stakes for diligently working with another insurance provider to bring an additional proposal to the table. With her efforts we were able to have two insurance proposals to review. This brings a great deal of piece of mind that we made the right choice and that we received a good value.
In years past the insurance companies billed the owners directly for the premiums, but due to slow collections last year we are having to shoulder that burden ourselves. Next week Johnson and Cate will be sending out a bill for the insurance premium. We request that this be paid promptly so that we can turn and pay the insurance company. We do not have a financial reserve built up to pay the insurance so we need prompt payment from owners to cover the bill.
Along with the bill you will be receiving a document that you can forward to your mortgage company to verify that we have current insurance. I will also send out a page or two of our by-laws that speak to the coverage of the umbrella policy verses the owner's personal contents policy. This might be the question I receive the most so I thought I would send you what I have and you can read it for yourself.
Feel free to call or email me with any questions, 713-725-3860.
Thank you,
Scott Schomburg
posted by Kontiki at 9:23 PM
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