with Jerry Geswein, Representative of Nationwide Insurance
This meeting occurred at the request of several condo
owners at the last meeting. There were several owners there with questions and
below is a summary of the results of those questions.
The following should be helpful:
1. Our community has By-Laws and a deductible policy. Article
XI, identifies what party is responsible for insuring which part of the
condominium building. Claims are paid according to the language in Article XI.
2. Our community
is covered by Nationwide Insurance they cover claims according to our By-Laws.
3. Each owner should have separate insurance for their
condo. To know which part of the condominium is the owner’s responsibility,
each owner should have their Agent review Article XI along with the community
deductible policy. You may contact Jerry Geswein at Nationwide to get a copy of
this information. Then, you pass the information along to your agent so your
agent can make sure that you have proper coverage.
4. The owners are encouraged to take pictures of their
condo and keep them in another place because it is easier to prove what was
there in case of loss.
PLEASE REVIEW YOUR INSURANCE POLICY WITH YOUR AGENT. CONTACT JERRY GESWEIN IF YOU NEED ARTICLE XI
AND THE DEDUCTIBLE POLICY TO SHARE WITH YOUR AGENT. THIS WILL HELP YOUR AGENT ASSESS
YOUR NEEDS AND MAKE SURE YOU HAVE PROPER COVERAGE AND AVOID PAYING FOR COVERAGE
THAT IS NOT NECESSARY.
Sylvia Bower, Secretary – Villas of Riverbend Board of
This document is the Insurance Property Declaration page for our Association Insurance Policy. You can click on the picture to open it in another window. When done viewing, click outside the picture to return to the previous page. If you want to print it, right click on the opened picture and select print.
This document is the Property Declarations for our Riverbend Association Insurance. The total policy is 90 pages. Generally, this is the information your insurance agent or bank would request. If you click on it, it will open in another window. When done viewing, click outside the picture to return to the previous page. If you want to print it, right click on the opened picture and select print.
If you require additional information, you can contact Real Property Management or the insurance agent.
You can click on the picture to open it in another window. When done viewing, click outside the picture to return to the previous page. If you want to print it, right click on the opened picture and select print.
Villas at Riverbend Condominium Association Policy Resolution 2004-02: Policy Resolution Relating to insurance deductible claim Enacted: Date 08-24-2004 Effective: Date 08-24-2004
WHEREAS, the Board of Directors of Villas at Riverbend Condominium Association is empowered to determine proper coverage of and acceptable insurance needs for common and limited common elements and, if applicable, items visible from common elements of the association pursuant to the BYLAWS (Code of Regulations), Article IV, Section 12 – Powers , Board of Trustees-enforce the covenants, conditions and restrictions set forth in the DECLARATION and Article XI, Insurance; Losses Bonds, Article XV-Assessment and Assessment Liens; Reserve Funds, and the Villas at Riverbend Rules and Regulations…..
WHEREAS, the Board of Directors desire that Villas at Riverbend Condominium Association unit owners are responsible for the actions of themselves, family, guests, etc. who have been granted access to the community and cause damage to their unit, other units, any common or limited common element by means of negligence or negligent behavior. This negligent behavior may be determined by one of several means, Police Department, Fire Department, Insurance Company, or other formal, qualified organization as determined by the Board of Directors.
WHEREAS, it is the intent that this policy be applicable to reimburse the Villas at Riverbend Condominium Association upon demand of same. This resolution is enforced and enacted until rescinded, modified, or amended by the majority of the Board of Directors…
NOW THEREFORE, BE IT RESOLVED THAT the following policy shall be adopted by the Board of Directors regarding the payment of insurance deductible upon demand.
Unit owners, current owner and all successive owners, should they or their guests and invitees be determined to be negligent in their actions are responsible for the repayment and/or reimbursement of any insurance deductible and related costs should a claim be filed and paid by the Association’s insurance company and upon demand of the Board of Directors. Failure to reimburse the Association will result in any all and legal action available and will be solely the owners expense and responsibility.