Cohousing-L Mailing List: Re: HOA Insurance

[Peter Orbeton (peter.orbeton]

Mac -

At Nubanusit Neighborhood & Farm, we have two policies each (casualty and
liability) for the HOA and one for the farm, which is a distinct unit
defined in our Declaration. Coverage is provided for both by Acadia
Insurance. As for cost, it's not a straight-forward comparison. The
residential buildings are common area with limited common area units, so
HOA casualty covers those buildings (29 units total), plus a small
commercial office building and our common house. The expense is over twice
what you are currently paying.

Peter Orbeton
Treasurer, Nubanusit Neighborhood & Farm
http://peterboroughcohousing.org

Nubanusit Neighborhood & Farm
http://www.peterboroughcohousing.org


On Wed, May 11, 2016 at 10:52 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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