Your HOA Insurance (general liability for common areas) is provided by:
State Farm – Agent Greg Lopeman
Phone: (919) 933-7770
BUILDING INSURANCE
OWNERS AND RENTERS ARE RESPONSIBLE FOR THEIR LIABILITY INSURANCE. THE ASSOCIATION DOES NOT INSURE (or otherwise protect you) FOR YOUR LIABILITY RISKS.
Unit owners are obligated (mandatory) to purchase and maintain full homeowner’s insurance (H03) on their units for full replacement value. Owners should discuss this and ensure adequate coverage for building code upgrades. All of the units are approximately the same size, and according to the tax records, they are estimated to be about 960 sq ft.
* * * PRINT FORM: Insurance Verification form to be submitted to the Association by unit owners. * * *
* * *ONLINE FORM: Insurance Verification* * *
NOTE: Without regard to insurance coverage or the type of policy purchased, owners are required to repair and/or rebuild their units if they have a loss.
The Association does not have a “Master Policy”.
It is suggested that people who are renting or rooming should purchase their own Liability and Renter’s coverage (for their personal property).
FLOOD INSURANCE
The Association has been advised that no buildings (units) exist in the floodplain.
The lowest building – lowest floor level – is listed as being above current regulatory protection elevations.
The Association has no obligation to, and therefore does not, carry flood insurance.
This will not preclude an owner from purchasing their own or a lender from requesting that the owner purchase a personal flood insurance policy.
If needed, unit owners should contact the Town of Carrboro’s Planning Department for the elevation level of their specific unit.