Cohousing-L Mailing List: Re: HOA Insurance

[Mac Thomson (macthomson]

Thank you Peter. Very helpful.

Would it be possible to get a copy of the language you use in your Declaration?

-- 
Mac Thomson

Heartwood Cohousing
Southwest Colorado
http://www.heartwoodcohousing.com


"You won't be happy with more until you're happy with what you've got."
       - Viki King 
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> 
> Date: Tue, 17 May 2016 11:48:23 -0400
> From: Peter Orbeton <peter.orbeton [at] gmail.com>
> To: Cohousing-L <cohousing-l [at] cohousing.org>
> Subject: Re: [C-L]_ HOA Insurance
> Message-ID:
>       <CAENF7h1GTvSBVSqETWERZWmpw_bDvwQdQVT3hL4ZgYsMkbNnVQ [at] 
> mail.gmail.com>
> Content-Type: text/plain; charset=UTF-8
> 
> 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
>>