OWNERS AND RENTERS ARE RESPONSIBLE FOR THEIR OUR LIABILITY INSURANCE.
THE ASSOCIATION DOES NOT INSURE (or otherwise protect your) FOR YOUR LIABILITY RISKS.
Unit owners are obligated (mandatory) to purchase and maintain full homeowner’s insurance (H03) on their units for full replacement value. Owners should discuss and be sure to have adequate covered for building code upgrades. All of the units are approximately the same size and according to the tax records, they are estimated to be about 960 sq ft.
* * * Insurance Verification form to be submitted to the Association by unit owners. * * *
NOTE: Without regard of insurance coverage or type of policy purchased, owners are required to repair and/or rebuild their units if they have a loss.
The Association does not have a “Master Policy”.
It is suggested that people who are renting or rooming should purchase their own Liability and Renter's coverage (for their personal property).
The Association has been advised that there are no buildings (units) in the floodplain.
The lowest building - lowest floor level - is listed as being above current regulatory protection elevations.
The Association has no obligation to, and therefore does not, carry flood insurance.
This will not preclude an owner from purchasing their own, or a lender from requesting that the owner purchase, a personal flood insurance policy.
If needed - unit owners should contact the Town of Carrboro,s Planning Dept. for their specific unit's listed elevation level.