The Villages Informational Presentation

1. July 17, 2008 Randy Hughes Mark Knox Carolyn Schaefer The Villages Informational Presentation CA 0D40525

2. “All-in” Property Valuation “All-in” Property valuation provides coverage for all property with the exception of the unit owner’s personal property. The common definition of Personal Property is items that can be taken with you. Unit Owner’s Personal Property should be covered under a HO6 Policy in the unit owner’s name. All coverage decisions will be made by the carrier. Any statements made within this presentation are matters of opinion and interpretation. Please note that these statements do not override any coverage decisions as made by or that will be made by insurance carriers. CA 0D40525

3. What Should Be Covered? Loss Scenario: Fire starts in the dining area and quickly spreads throughout the unit causing damage to the kitchen. The damage areas/items include: walls, ceiling, insulation, updated cabinetry, brand new marble countertops, the freshly tiled floor and recently purchased stainless steel appliances Assuming “All-in” Property Valuation: What should be covered? All coverage decisions will be made by the carrier. Any statements made within this presentation are matters of opinion and interpretation. Please note that these statements do not override any coverage decisions as made by or that will be made by insurance carriers. CA 0D40525

4. Personal Property Personal Property Replacement Cost • Contents coverage should always be written with replacement coverage. Deluxe Replacement Personal Property Coverage • Many companies offer the deluxe coverage. All coverage decisions will be made by the carrier. Any statements made within this presentation are matters of opinion and interpretation. Please note that these statements do not override any coverage decisions as made by or that will be made by insurance carriers. CA 0D40525

5. Liability Coverage Liability is needed for each individual unit owner. Worldwide Coverage is available on some policies. • If the unit is Primary residence, then it is recommended to purchase an Umbrella policy. • If the unit is Secondary residence, then add to your current Umbrella policy. All coverage decisions will be made by the carrier. Any statements made within this presentation are matters of opinion and interpretation. Please note that these statements do not override any coverage decisions as made by or that will be made by insurance carriers. CA 0D40525

6. Loss Assessment • It is important that the unit owner have Loss Assessment Coverage. • Check your Earthquake Loss Assessment- it needs to be added to the policy or a separate policy. • Check the HO 6 coverage as to the coverage for the condo association Loss Assessment for the deductible coverage All coverage decisions will be made by the carrier. Any statements made within this presentation are matters of opinion and interpretation. Please note that these statements do not override any coverage decisions as made by or that will be made by insurance carriers. CA 0D40525

7. Standard vs. Deluxe Coverage All coverage decisions will be made by the carrier. Any statements made within this presentation are matters of opinion and interpretation. Please note that these statements do not override any coverage decisions as made by or that will be made by insurance carriers. CA 0D40525

8. We recommend to do an annual review of your insurance policies. Items that need to be addressed: Personal Property Liability Loss Assessment Loss Assessment for an association deductible Review your Insurance All coverage decisions will be made by the carrier. Any statements made within this presentation are matters of opinion and interpretation. Please note that these statements do not override any coverage decisions as made by or that will be made by insurance carriers. CA 0D40525