Opequon Center Condo Association - Condo Association Insurance

Declaration Pages Downloads

Please review the following insurance information so that you understand what the Condo Association’s insurance policy covers and what it does not. The Condo Association owns all buildings from the studs outward and the common areas, which consist of the parking lot, the lawn, the sidewalks and the inside common areas of building 3052 and 3034. Each condo owner owns from the studs inward, the heating/air conditioning unit (regardless of where it is located) and the windows glass.

The Condo Association’s insurance policy covers:

1) Replacement of the buildings from the studs outward should they be destroyed by fire, bad weather, etc. is covered. There is no terrorism or flood coverage. The Condo Association does NOT have Federal Flood insurance.

2) Liability in the common areas (parking lot, lawn, sidewalks and the inside common areas of building 3052 and 3034) is covered. The inside area of each condo unit is not covered for liability by the Condo Association's insurance policy.

3) If an owner or a renter does not follow the snow removal policy of removing snow/ice less than 2" and someone is injured by a fall, the Condo Association Insurance's company will sue the owner of the condo unit for liability coverage. If a renter does not follow the snow removal policy, the unit owner will be liable, not the renter. Owners are responsible for the actions of their renters.

The Condo Association’s insurance policy does NOT cover:

1) Liability or injuries to customers/patients inside individual condo units is not covered. Owners and renters should have business policies that covers this and for liability for damage to the Condo Association's building/property and adjacent units. Each owner should have a business policy even if your renter has a policy to cover the unit should the renter be underinsured or if insurance is discontinued or if the unit is becomes empty. If a loss occurs, the condo owner’s policy is responsible for the claim primarily. The tenant’s policy can later be subrogated against (claimed against) if the cause of loss is determined to be theirs.

2) Injuries to employees that occur as part of their employment in condo units at Opequon Center is not covered. All businesses, whether run by owners or renters, are required by VA state law to have Worker Compensation insurance. Workers Comp insurance is separate from a business insurance policy. This is not a Condo Association regulation, it is the law in VA. If a renter does not carry Workers Comp insurance, the condo owner may be liable if there is a claim.

3) Replacement of the contents or business equipment of any condo unit, whether it is rented or owned is not covered.

4) Replacement of the air condition/heating unit or window glass of any unit should it be destroyed is not covered. If you rent your unit, you should have a business policy that covers the air conditioning/heating unit and the window glass since renter’s insurance usually only covers the renter’s business equipment and the renter's liability. As an owner, you should also have a business policy that covers liability in case your renter is not insured or is underinsured or moves out.

5) The Condo Association’s insurance policy does not act as an umbrella policy if an owner or renter is underinsured or has no insurance.

6) If a building is lost, owners, renters, mortgage companies and banks are NOT beneficiaries of the Condo Association’ s insurance policy. The only beneficiary of the Condo Association's insurance policy is the Condo Association. If you have a mortgage on your unit, the mortgage company and/or bank should be a beneficiary on your business policy, not the Condo Association's policy.

7) If an owner or renter is negligent and causes a loss to the Opequon Center property, the Condo Association's insurance company will sue the OWNER for liability of that loss. Owner/renter negligence can include, but are not limited to: unsafe handling of fire, leaving cheap Christmas lights on unattended, owner/renter's children playing unsafely in the parking lot or on sidewalks, unauthorized use of the Opequon Center property for non-business purposes, long-term storage of any vehicle, parking vehicles on the yellow lines or other areas not designated as parking spots, damaging or unauthorized changes to the outside of buildings, installing electrical equipment that does not meet standard building codes.

Please review your insurance needs with your insurance agent to make sure that you understand your coverage and that you are not underinsured (lack of coverage or insufficient coverage) or are over-insured (paying for a policy that covers the outside of the building which you do not own). Your policies should be reviewed on a yearly basis or anytime the value of your business equipment or employee payroll changes significantly. Many people only find out that there are problems with their insurance when a claim is made, and then it is too late to obtain coverage for the incurred loss. As an owner, you are liable for problems that start in your unit and spread to adjacent units.

All owners/renters are partners in Opequon Center, and fire prevention is EVERYONE'S responsibility. All units are require to have a professionally installed and continuously monitored fire alarm system. A fire in one unit can spread to adjacent units. The fire wall between the units does not extend to the roof. Once a fire gets going in one unit, our engineer said that an entire building can burn down in less than 20 minutes. If the wind is blowing, a fire can easily spread to other buildings. Insurance and fire preventions must be priorities to everyone at Opequon Center.

For questions about the Condo Association's insurance policy or to buy business owners or renters insurance, please contact:

Farmers Insurance

Matt Cooper Agency

133 W Boscawen St, Suite 6

Winchester, VA 22601

540-686-7883

This email address is being protected from spambots. You need JavaScript enabled to view it.

Insurance Information for Opequon Center