Dear Barrington Place Homeowners,
Please note that the HOA’s master insurance policy is now with Robins Insurance Agency (as of April 1, 2023). Going forward, Certificates of Insurance (COIs) can be obtained by emailing certificates@robinsins.com.
By changing insurance policies, the HOA’s annual premium has been reduced by 33% (a savings of $16,622 per year). The HOA’s master insurance policy covers the exterior (shell) of the buildings. The individual homeowners are responsible for insuring the interior of their homes.
The HOA’s deductible is now $25,000. Please make sure that your individual insurance agent is made aware of this, as homeowners’ insurance policies should include loss assessment coverage in the amount of $25,000.
The HOA’s deductible for wind/hail damage has also been changed from $4,606 per building to $25,000 per occurrence. Previously, if a tornado destroyed all of the roofs at Barrington Place, the HOA would have been obligated to pay $156,604 out of pocket for the wind/hail deductibles. With the new master insurance policy, the HOA would only have to pay $25,000 out of pocket if all of the roofs were destroyed by a tornado.
If you have any questions, please email us at BarringtonPlaceHOA1@gmail.com.
Thank you.
Regards,
David Floyd & Associates, Inc.