Typical Village insurance
quote related questions…
-05/07/07 KRies
1.) Square footage
21,870 = Square
footage of each unit both structures, not including common areas.
2.) Building Limits
From the Village
Declarations:
Being
a vacant parcel of land containing 1.3 acres, more or less.
Twenty-one (21)
apartments or more specifically six (6) one bedroom apartments consisting of
approximately 722 square feet, six (6) two bedroom apartments consisting of
approximately 876 square feet, six (6) three bedroom apartments consisting of
approximately 1300 square feet and three (3) four bedroom apartments consisting
of approximately 1494 square feet.
3.) Any other structures
Trash/Recycle shed,
four ramp storage areas, and Laundry room
4.) Insurance Value of each building
02/11/05 Insurance
Total Building Value = $920,000
03/15/07
Replacement cost for both buildings $2.2 Million
5.) Sprinkler or Alarm systems in place
All units have a
sprinkler system, smoke & Carbon monoxide detectors and fire extinguishers
are in place and inspected annually. Fire Sprinkler system has monitoring in
place, along with low temperature sensors in each unit.
6.) Number of directors or officers
Village Assoc.
currently has 3 directors
7.) Woodstoves or fireplaces
All units have a
fireplace or wood stove
8.) Any improvements to the property since the original
construction – roof, electric, heat etc.
-New roof, a few
years ago
-Several electric
upgrades in common area
-21 units have
installed propane heating units
-Vinyl siding and
exterior insulation installed 2005
9.) Do the 2nd and third floors have a second means of
escape?
Second and third
floor units have one means of egress, each unit has at
least one balcony
but no fire escape associated with them.
10.) Past Village claims
05/16/03 Fire
Damage = $59,231.88
03/19/04 Frozen
Sprinkler System Repair = $6,784.20
05/07/07 No
additional claims to date
11.) Current insurance annual premium cost
David Schramm of Mullen
Financial Services with carrier Nationwide
03/13/0 Re-quote
provided with total premium cost of $7,857.00