Registered Letters Sent To Unit Owners
Liberty Commons’ Managing Agent sent registered letters (certified mail return receipt) to each Unit Owner. Notices were placed in the doors of those Unit Owners who were not at home. Those Unit Owners who were not at home at the time of attempted delivery will need to go to the Leominster Post Office to sign for and pick up the letter.
The registered letter is the notification of increase in master insurance policy deductible to $25,000 and what action each Unit Owner needs to take to ensure proper coverage and deductibles for each Unit Owner’s individual insurance policy. Unit Owners should read the notification and update their individual insurance policy of the HO-6 and HO-32 accordingly.
It is strongly advised that each Unit Owner, carry insurance on the Unit that meshes with the Association’s policy and the $25,000 deductible. A homeowner’s policy is called an HO-6 and is designed for condominium ownership. It provides a Unit Owner with the Building, Personal Property and Personal Liability coverage the Unit Owner needs as a resident Unit Owner. Most importantly the HO-6 policy would provide coverage for the $25,000 in damage to the Unit Owner’s Unit caused by a covered cause of loss, i.e. hot water heaters that let go, washing machine hoses that fail, ice makers that rupture, toilet overflows, water meters, dishwasher, water that enters the unit through a faulty roof, a pot that is left on the stove that causes smoke damage to your Unit for example.