Lake Ridge Insurance

Section 7.03 of the Bylaws reads, "Each Unit Owner shall be responsible to purchase and maintain in force a condominium/townhome unit Owner contents policy (State Farm HO6 or equivalent) (the "content policy"). All claims for damage to an individual Unit must first be submitted by the Owner on his contents policy. The Committee will not be required to file claims on its master policy for any damage that would have been covered under an Owner's conent policy."

The HOA maintains an insurance policy for the complex with a $10,000 deductible. This policy does not cover all things such as personal property.
  • The unit owner's policy, if any, is considered the primary policy for primary coverage for a loss occurring to the unit owner's unit and any limited common elements appurtenant to the unit.
  • The association's policy is considered the primary policy for any covered loss to any common area.
  • If a unit owner does not have a policy to cover the damage to that unit, then the unit is responsible for that damage and the association may recover any amounts the association expends to remediate the unit and any appurtenant limited common areas by levy of an assessment against the unit owner.

    • Insurance Questions

    Danny Parkhurst
    danny@choiceplusinsurance.net
    801-825-8165 or 801-628-4766