Cohousing-L Mailing List: Re: HOA Insurance

[Chris ScottHanson (cscotthanson]

Mac,

I suspect you could easily subdivide the property and put the 65 acres in 
different ownership, not in the HOA and segregate the insurance that way.  The 
HOA could then be insured as a simple “regular HOA” and the pasture/farmland 
could be insured separately under different ownership, not confusing the 
insurance underwriters.

Chris ScottHanson
(206) 601-7802

> On May 11, 2016, at 7:52 AM, Mac Thomson <macthomson [at] me.com> wrote:
> 
> 
> The cost of our HOA insurance has doubled in the last couple years — from 
> ~$5K/yr to ~$10K/yr.
> 
> That’s just the insurance for the HOA, not for the homes, which are covered 
> under separate policies.
> 
> The issue that makes finding affordable insurance very difficult for us is 
> that we have 65 acres of pastureland with all sorts of farming activities 
> happening down there — horses, cattle, llamas, greenhouses, recreational 
> farming, quasi-commercial farming, etc. 
> 
> I think insurance companies get very uncomfortable when they are faced with 
> the unfamiliar. They are familiar with HOA’s and they are familiar with 
> farms, but the combination freaks them out.
> 
> I’m reaching out to the larger cohousing community network to see what kind 
> of insurance you have. Answers to any of these questions would be very 
> helpful.
> 
> Can you recommend an insurance company that is cohousing friendly?
> Can you recommend an insurance company that is cohousing friendly and farm 
> friendly?
> How much do you pay annually for your HOA insurance (not including the homes)?
> How many households are in your community?
> 
> Thank you for any help you can give!
> 
> This has become are very frustrating and expensive issue for us.
> 
> Thanks,
> Mac
> 
> 
> -- 
> Mac Thomson
> 
> Heartwood Cohousing
> Southwest Colorado
> http://www.heartwoodcohousing.com
> 
> 
> "A wise and frugal government, which shall restrain men from injuring one 
> another, which shall leave them otherwise free to regulate their own pursuits 
> of industry and improvement, and shall not take from the mouth of labor the 
> bread it has earned -- this is the sum of good government."
>        - Thomas Jefferson
> **********************************************************
> 
> 
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