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Insurance
We have been informed that homeowners shall inform their agent to designate that The Asters On Almond is named as an “Additional Interested Party” on the Insurance Policy.
It was also confirmed that AOAHA should not be named as “additional insured” or any other designation.
FOR BILLING AND NOTIFICATIONS PURPOSES ONLY.
“Additional Interested Party” indicates that the Association has an “interest” in being notified whenever a policy changes, renews, or cancels .
We have also been informed that this designation can be noted in a “Comments” section if it is not an option on the system of the insurance company. If the insurance company cannot provide this designation, then an “Accord 27 form, which is a Certificate of Insurance”, is an acceptable substitute.
If you have not done so contact your Insurance Company to inform them.
A copy of your policy, for proof of insurance, must be sent to the AOAHA annually at the renewal date of the policy.
The address is: astersonalmond@gmail.com
(enter INSURANCE in the subject line)
or: AOAHA P.O. BOX 53 Grayslake, IL 60030-0053
Note: Owners need to provide coverage for their property's interior and exterior - Townhome or Homeowner Insurance NOT Condo Insurance.
The owner / resident must fully insure his / her Unit at the Asters. The AOAHA carries no insurance on the residences - only for the Common Area. Proof of Insurance must be mailed to our PO Box and homeowners shall inform their agent to designate that the Asters On Almond is named as an “Additional Interested Party” on the Insurance Policy.
ARTICLE 5 ~ DWELLING INSURANCE REQUIREMENTS
Each Owner shall be responsible for and shall procure fire and all risk coverage insurance, including a minimum of $300,000 liability limit, upon such Owner’s dwelling, including the dwelling and all improvements, and for not less than the full insurable replacement value thereof under a policy or policies of insurance with such company or companies, in such form and for such premiums and periods as they may determine to be appropriate. Each Owner shall be responsible for his/her own insurance on the contents of his dwelling and any personal property therein. All such policies shall name the Association as “additional interested party” and all documentation must be mailed by the insurance agent to the appropriate address as designated by the Board of Directors. Homeowners shall obtain ‘TOWNHOME ’ insurance and not ‘condo’ insurance.
The policy shall not be cancelled or materially changed except upon ten (10) days’ prior written notice, by the insurance agent, thereof to the Board or their managing agent at the appropriate address as designated by the Board of Directors.
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To: Whom It May Concern:
Re: Insurance for Common Areas - Asters On Almond HOA
Our Insurance agent will handle request for Insurance information for the AOAHA Common Areas. Contact information listed below.
AOAHA Insurance Agent
Jim Olive, Agent
206 N Butterfield Rd Libertyville, Il 60048-1757
Office: 847-362-6444 Fax: 847-362-6448 Website: www.oliveinsurance.com
License: IL-100281685
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