Hurricane Irma Update

Hail Storm Insurance Claim Update

September 24th, 2017

• Cleanup continues around the property.
• Several owners have reported some water damage in the unit.
• The two Banyan trees on Cove Road (near the kayaks and at the park) were hit hard and have been heavily trimmed. 
• The bushes and trees along Cove Road and behind the tennis courts have been trimmed way back.
• A couple of trees behind building 6 have had to have damaged limbs taken out.
• The new fence that was installed on our property near the park will have to be rebuilt.  The tide and branches in the water toppled it over.
• All palm trees are now being trimmed per our contract.
• Several rubbish doors will need to have panels replaced.
• The two broken storm water pipes (not from storm) have been repaired by Sunshine.
• Venture construction is back on site moving forward with our 2015 hail storm claim.  We expect insurance adjusters to follow in a week or so.  They had been through 5 buildings before the storm hit.
• Update on Hurricane Irma from Hanson's Landing Board of Directors HERE.
  

Summary
The damage could have been much worse if the storm took a different path.  We do not expect that there will be enough damage and expenses to place a hurricane claim at this time.  We will stay in touch with our insurance agent RV Johnson as we complete the cleanup.
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Chuck Morgan (Hanson’s Landing Director) who lives in Building 8 and stayed through the storm and captured some video from his porch at the height of the storm.  

Video footage from Hurricane Irma in 2017

July 31, 2017  

The Board recently contacted our Insurance Agent, RV Johnson, for any contractors/companies that they would recommend to conduct an independent assessment of remaining life of our tile roofs. 
This information would be used by the Board to review the reserve analysis estimate for the roofs (one of multiple elements) from GAB Robbins prepared for Hanson’s Landing for the period 1/1/2017 to 12/31/2107.
Venture Construction Group of Florida was chosen to do the audit and did so over several visits/days.  What they found and reported back was that our buildings received damage to them from the 4/27/2015 hail storm which included roofs, gutters, windows and or seals etc.
Several members of the Board met with RV Johnson owner Rudy Johnson and our agent Katherine Nguyen. After reviewing Ventures report, pictures of damage and past experience with Venture, they recommended a claim be opened with our insurance co. American Coastal.  At the Board meeting on July 25, 2017 the Board approved opening a claim.
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What the Board knows/has done as of 7-31-17:

• RV Johnson has filed the claim.
• Venture Construction Group, that offered multiple client referrals, has been selected as the general contractor for this claim by the Board. 
• Chuck Morgan HLBOD Director, will be the main interface to Venture, Advantage, RV Johnson and the Board.
• A next step will be a claims adjuster from American Coastal will be assigned to review the damage.  Venture will do their final assessment prior to and then with the American Coastal adjuster.
• Back and forth negotiations will take place before final claim amount is determined.  Chuck representing the Board will be included in/at all levels of discussion.
• After an amount and types of repair are ID’d Venture will begin the work.

Other information:

1. The term limit for claims of this type is 3 years and we are well within it.
2. Our insurance for this type of damage requires us to only be responsible for a deductible of $2.5k.  Unlike hurricane damage which is set per building at a much higher deductible, this is PER EVENT of damage and caps at $2.5k.
3. This will be a long process.  Estimates to complete all phases of the claim start to finish is at least one year and maybe longer.
4. There are no guarantees in life and certainly not in the insurance industry.  However RV Johnson tells us that due to the soft insurance market today, we may not see an increase in our insurance rates for 2018 or if we do it may not be significant.  The Board had already been working on our 2018 insurance and will see first estimates in the next two weeks.

That is all that we have as information to share with you at this time.  Be assured we will keep all owners appraised and up to date on any new information and updates on progress as we get them.
-The Hanson’s Landing BOD and Hanson’s Landing Insurance Claim Committee.
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General Insurance Information

Your Question on Insurance options as HL unit owner :
The following is a brief summary of our insurance program and does not constitute a recommendation but hopefully clarity on several options available to unit owners.

Hanson’s Landing  Property Insurance :
It covers all common area buildings, pool house, maintenance shed, carports and 13 buildings. For buildings, it will cover replacement cost construction, with current codes and costs associated as required in case of catastrophic damage. The value is determined by independent appraisal. The coverage also is exterior walls and interior walls/ceiling up to the owner’s side of same walls. In general, anything you see in your unit is your responsibility not the association’s. Insurance for HVAC units is included in the association’s insurance by statute, the unit owner is responsible for maintenance and replacement other than a covered loss by insurance.

Unit Owner’s Insurance :
Covers your unit up to selected limits for built in items, personal property and can cover additional living expense as well as personal liability. Other additional options are available. No Flood coverage is included with Unit Owners Insurance.

Flood Insurance :
Hanson’s Landing has Flood coverage on all residential buildings for full appraised value. The coverage is through the NFIP or Federal Insurance program and is broader than the Florida Statute. It covers the buildings, foundations and most original built in items. It does not cover personal property of the unit owner. Personal flood insurance can be purchased through the NFIP (your local agent) and can cover building coverage (excess over the association policies) up to $250,000 and up to $100,000 personal property. Excess coverage is also available.

Bottom line :
Major catastrophe, association rebuilds buildings, unit owner’s insurance covers your interior and contents. Flood, association policy covers buildings including built ins, unit owners are responsible for their personal property.