Waverly Woods by wuzhenguang


									                       STATE FARM MASTER CONDO POLICY
Dear Neighbor,

               The Board wishes to inform you that we have renewed the Master Condominium
policy with State Farm Insurance effective May 15, 2009. Attached you will find a copy of your
certificate of insurance which lists all of the coverage’s your condo association has chosen.

                Under State Farm’s Master policy there is coverage for the Entire Building when
a claim is submitted by the Board of Directors for a covered loss. This includes: walls,
windows, floors (carpet or hardwood), ceilings, cabinets, fixtures & appliances. In addition,
State Farm’s Master Policy includes all Upgrades and Improvements, such as granite
countertops, large moldings, and upgraded cabinets that are permanently attached to the building.
All these items including the Building are considered REAL PROPERTY for insurance

               As discussed during the February 5, 2009 Annual Meeting, The Maryland Court
of Appeals recently held that the Maryland Condominium Act does not “REQUIRE” the
Condominium Association to repair or replace Building Property of an individual unit after a
casualty loss. As always, it is strongly recommended that you have a Personal Condo Unit
owners Policy-HO6 which includes adequate Building Property coverage. In addition your
personal policy should cover any damages less than or up to the Master Policy deductible. The
Board decided to keep our Master Policy deductible at $1,000 instead of increasing it to the
limits allowed under Maryland Law (pay up to $5,000 of your Master Association’s deductible).

                The Board encourages you to shop for competitive Condo/Unit Owners (HO6)
coverage. An example of State Farm’s Condominium/Unit owners (HO6) policy includes
$100,000 Replacement Cost Contents, $30,000 Building Coverage (Improvements &
Betterments), $300,000 Personal Liability, Loss of Use/ Additional Living Expenses, $25,000
Loss Assessment, Medical Payments, Back up of Sewer & Drain, $2,500 Jewelry coverage with
a $1,000 deductible for approximately $360 per year. Please keep in mind that rates are subject
to your loss history and could vary depending on alarm, sprinkler, and multi-policy discounts.

              Should you have any questions regarding your condominium policy or State
Farm’s services please feel free to contact our agent’s office at:

TOWSON, MD 21286
OFFICE- 410-321-9770/410-321-9776- FAX


Board of Directors
Hearthstone of Ellicott Mills Condo, Inc.

Attachments: Evidence of Insurance, Forms/Endorsements/Fire Policy Status

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