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The attorney for our association is saying he doesn't think that being left with the outside structure and a fireplace is correct. That after a fire, one unit was left with all the wiring, everything, to do themselves. I understand that totally depends on our by-laws, I am just curious for those whose say 'walls-in' exactly what that includes/excludes in yours.
The attorney for our association is saying he doesn't think that being left with the outside structure and a fireplace is correct. That after a fire, one unit was left with all the wiring, everything, to do themselves. I understand that totally depends on our by-laws, I am just curious for those whose say 'walls-in' exactly what that includes/excludes in yours.
Our walls in master insurance policy covers everything other than contents. We had a unit burn down and the policy covered completely rebuilding the inside including appliances. Anything that’s considered built in is covered. We carry a personal policy with Schedule A equal to the deductible of the master policy, coverage for contents and loss of use.
Our walls in master insurance policy covers everything other than contents. We had a unit burn down and the policy covered completely rebuilding the inside including appliances. Anything that’s considered built in is covered. We carry a personal policy with Schedule A equal to the deductible of the master policy, coverage for contents and loss of use.
IDK if we can do that. Everything that was 'built in' was 30 years ago. I have no idea the cost of this vs the cost of all of us getting 'walls in' coverage individually.
IDK if we can do that. Everything that was 'built in' was 30 years ago. I have no idea the cost of this vs the cost of all of us getting 'walls in' coverage individually.
Just like you can on any individual homeowners insurance policy, our master insurance policy is for replacement cost so the age of things doesn’t matter. The cost divided by 50+ homes is far less than I could get as an individual homeowner.
Just like you can on any individual homeowners insurance policy, our master insurance policy is for replacement cost so the age of things doesn’t matter. The cost divided by 50+ homes is far less than I could get as an individual homeowner.
Thanks. We COULD do it, but it would require a change in the by-laws. Right now it's walls-in, we are responsible for. I really don't care either way. I'd love to see (for us) a comparison of cost for such a policy vs us each paying our own.
One of our internal disputes is how much should the HOA pay for and how much we should. We, ultimately, pay for what the HOA does, it isn't 'free' to us. Hence my desire to see a cost difference break-down.
Mainly I am curious to hear from others who are responsible for 'walls in'. Ours says plumbing and wiring up to the point of connection with the common plumbing and electric meter, for instance, so what this attorney saying may not be right seems to be right (according to our by-laws).
I have always known if there was a fire I'd be left with a shell from them, and have to re-build the inside. I hope my insurance is sufficient for that. I asked for it to be.
Typically walls in means from the interior wall in meaning from the interior wall out is the associations responsibility. Everything behind (and in) the wall (framing, electrical, piping, ventilation, etc) is the associations responsibility.
Look up HO-6 insurance and pay attention to structural (wall, cabinets, appliances, etc) versus personal property like your clothes, TV, computer. Personal property is often described if you turned your condo upside down, what falls out is personal property. The stuff remaining is structural.
Our walls in master insurance policy covers everything other than contents. We had a unit burn down and the policy covered completely rebuilding the inside including appliances. Anything that’s considered built in is covered. We carry a personal policy with Schedule A equal to the deductible of the master policy, coverage for contents and loss of use.
It turns out that in the case of a fire or other disaster, not only do our by-laws say that we must maintain this sort of coverage, Texas Property Code says we must. I am hella confused by a unit owner her being told 'walls in', and nothing was done to her interior after a fire, the cause of which is unknown.
And I am feeling stupid! I read 'walls in' so many times in the Declaration/by-laws I didn't notice this clause. When the attorney mentioned exterior walls and a chimney, I was like yeah, I think that is right but then decided he wasn't looking into that for no reason. So I looked again. And dangit. Right there in the declaratiopn, 'except that which is covered by the master insurance policy per the by-laws' and right there in black and white in the by-laws, the master policy must restore it to original specs.
Doesn't change my coverage though. What if the fire is my fault, God forbid, or that of a neighbor who lacks coverage?
It turns out that in the case of a fire or other disaster, not only do our by-laws say that we must maintain this sort of coverage, Texas Property Code says we must. I am hella confused by a unit owner her being told 'walls in', and nothing was done to her interior after a fire, the cause of which is unknown.
And I am feeling stupid! I read 'walls in' so many times in the Declaration/by-laws I didn't notice this clause. When the attorney mentioned exterior walls and a chimney, I was like yeah, I think that is right but then decided he wasn't looking into that for no reason. So I looked again. And dangit. Right there in the declaratiopn, 'except that which is covered by the master insurance policy per the by-laws' and right there in black and white in the by-laws, the master policy must restore it to original specs.
Doesn't change my coverage though. What if the fire is my fault, God forbid, or that of a neighbor who lacks coverage?
Homeowners Insurance pays even if you start the fire. You should discuss with your agent. We carry just enough Schedule A (that’s the one that applies to the physical structure) to cover the deductible on the Master Policy and upgrades (like a whole house of plantation shutters) that would not be covered under the master policy plus coverage for contents and loss of use. We also have a couple other condo/townhome specific coverages like Stop Loss Assessment. That’s the one that would cover our share if the HOA was sued (say someone was injured on the property) and an assessment was done to foot the bill. All in, our HO6 policy costs us $650 a year on a 650K townhouse. If we were covering it “walls in”, it’d be more like $3,600.
Homeowners Insurance pays even if you start the fire. You should discuss with your agent. We carry just enough Schedule A (that’s the one that applies to the physical structure) to cover the deductible on the Master Policy and upgrades (like a whole house of plantation shutters) that would not be covered under the master policy plus coverage for contents and loss of use. We also have a couple other condo/townhome specific coverages like Stop Loss Assessment. That’s the one that would cover our share if the HOA was sued (say someone was injured on the property) and an assessment was done to foot the bill. All in, our HO6 policy costs us $650 a year on a 650K townhouse. If we were covering it “walls in”, it’d be more like $3,600.
Thanks, my agent said they do a max of $1,000 for 'Stop Loss'. I didn't know I had that at all. The master policy covers being sued.
The association seems to be responsible for everything but upgrades and contents and loss of use. If an owner is negligant, the deductible from the master policy can be assessed to them.
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