Insurance Topics for Your Annual Meeting

By Buddy Whitaker 

Published December 5, 2012


Annual meetings are a great time to see and greet your neighbors it’s also a time to discuss the past, present and future of the homeowners or condominium association.  Part of the discussion should be to remind unit owners of their insuring responsibility.


Many unit owners have been told that they do not need to purchase a unit ownerss policy because the association will rebuild their unit.  This is not entirely true.  Unit owner should be made aware that they may be responsible for all of the association's deductible depending on the nature of the loss.  One way to protect themselves from the association's deductible is through a unit owner’s policy.


Annual meetings are also an ideal time to remind unit owners that the association does not cover liability that arises out of their unit.  The association's liability policy typically covers liability claims that arise from the common elements.  A unit owner's liability needs to be covered by the liability section in a unit owner's policy.


Make sure unit owners are reminded of their maintenance responsibilities.  Ruptured water heaters, washing machine hoses, ice maker lines, and drain lines cause thousands of dollars in damage annually.  And it will be documented in the minutes that they were reminded of their maintenance duties.


Hopefully this will motivate your unit owners to protect themselves and be more proactive.  A proactive community has fewer claims and cheaper rates.


Make a great day!


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Buddy Whitaker truly enjoys being an insurance professional. His condominium association client's appreciate his attention to detail. The fact that he has practically

committed the Georgia Condominium Act to memory helps. 

In his words, "My objective is to be the resource and trusted advisor that my clients want to turn to for guidance. I strive to either know the answer or know where to find it."

Creative Solutions: As a student of condo association (COA) insurance, Buddy has forged specialized programs that address the unique exposures of multi-family residential structures.

His solutions juggle the need to keep overall costs down, both for the unit owner and the association, while making sure that coverage remains as broad as possible.

COA Focused: He's leveraged his 6 years in the insurance industry; as the director of continuing education for Metro Alliance of Independent Insurance Agents, board position on his own condo association, and study of the Georgia Condo Act and condo declarations.  This transitioned into understanding of the COA sector, the nature of the claims,  methods of managing the risk, and the complex relationships among board members, unit owners, and property managers.

Insurance isn't just a job for Buddy, it is a passion.  That said, he also enjoys a round of golf, experimenting in the kitchen, and DIY projects around his home. He's also a loving husband and a proud father of a brand new baby girl.

Contact Buddy via email or visit Hamby & Aloisio's website.