ATTENTION JRMA SERVICE AREA 1 TOWNHOME OWNERS!
As a Townhome Owner in Jordanelle Ridge, Service Area 1, you are responsible for the costs of ANY damage to your unit under the master deductible. Failure to obtain an HO6 policy to reflect this coverage will leave you personally responsible for paying out of pocket for any amount between your Dwelling coverage limit and the Master Policy deductible in the event of damage to your unit. Please reach out to your personal insurance agent to review your coverage mentioned in this breakdown. You can always reach out to our office for advice on your existing policy or quotes on a new policy.
Below is a basic outline of the coverages you will find on an HO6/Unit Owner’s insurance policy:
Coverage A – Dwelling: $25,000 Minimum
Coverage C – Personal Property
Coverage D – Loss of Use
Liability: $100,000 Minimum
Medical Payments: $1,000 Minimum
Dwelling: Initial responsibility for all losses falls on the unit owner until the loss reaches the master policy deductible. It is suggested that unit owners obtain an HO6 insurance policy to cover the individual risk. The HO6 dwelling limit should, at minimum, match the Master Deductible; any costs over that amount would then be filed on the Master Association Policy to be covered.
Personal Property: The Master Association policy provides NO COVERAGE for a unit owner’s personal belongings. Review this limit with your agent to ensure it is sufficient to cover all your personal property. Be sure to let your agent know if you have anything of significant value, i.e., firearms, furs, fine arts, jewelry, musical instruments, outdoor equipment, etc., as many policies have limitations on items like this.
Loss of Use: Loss of use, also referred to as additional living expense, provides coverage for additional costs incurred if the unit becomes uninhabitable. This coverage reimburses the unit owner for qualified expenses, i.e., getting a hotel room after a fire destroys your unit while it is under reconstruction.
Liability: Liability protects policyholders and family members from lawsuits arising from bodily injury or property damage to a third party. For example, if your dog bites someone, or someone slips on your premises and is seriously injured, OR your kid hits a baseball, damaging someone’s property or injuring another person. The coverage minimum is $100,000, but you may need more depending on your assets and personal fiscal situation.
Medical Payments: The coverage provides a one-time payment for injuries to a third party regardless of fault in an attempt to prevent future, more costly litigation. For example, a friend comes over and cuts their leg on your deck; while he is not seriously injured, he does need medical attention. This coverage does not apply to household residents or their family members.
Other coverages to ask your agent about would be Water Sewer Backup, Equipment Breakdown, Service/Utility Line, Earthquake, and Flood. These are not included on a standard HO6 policy but can be added by request. If your unit is rented out, it is advised that you require your tenant to carry an HO4, or Renter’s, policy, as they are not included as an insured on your HO6 policy and would not have coverage for their contents or liability losses without it.
If you have specific questions regarding Service Area/Townhome insurance, please reach out to one of the following:
Risk Managers LLC
www.RiskMan1.com
(801) 262-1220
Tiffani Johnson, Agent
tjohnson@riskman1.com
Gentri Wendel, Account Manager
gwendel@riskman1.com
Jordanelle Ridge Master Association
www.JRMHOA.com
(801) 316-3217
Logan Watson, General Manager
logan@communitydynamics.com
Stephanie Hunsaker, Service Area Manager
shunsaker@csshoa.com
PDF Notice
JRMA Service Area 1 Insurance Certificate