High Point HOA upgrades insurance to replacement-cost coverage, reducing cost by $5,000
At the Feb. 6 meet-and-greet, the association reported switching insurance from depreciated-value to replacement-cost coverage for the Welcome Center, Office and Maintenance Building, trimming costs by $5,000; financial statements and next B.O.D. meeting details were also announced.
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At the High Point meet-and-greet on Feb. 6, Secretary Jean Albano reported the homeowners association renewed its insurance and upgraded coverage from depreciated-value to replacement-cost for the Welcome Center, the Office and the Maintenance Building, yielding a net reduction in cost of $5,000 compared with the prior policy.
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