Homeowner's Insurance Policy
Homeowners’ personal insurance policy is called an HO-6 policy or condo insurance. This policy complements the Nyland Community Association’s (NCA) master policy. The master policy will rebuild the exterior of your home to the “bare walls.” It may look like a house but upon entering there is no finishing. Your personal policy takes over coverage from the “walls in.” That would include the carpet, hardwood flooring, texture or paint on the walls, cabinets, interior doors, trim, light fixtures, sinks, etc.
Nyland’s CC&Rs require every homeowner to carry a personal policy to insure what is not covered by the NCA's master policy.
Here’s a list of what a homeowner’s personal policy should include:
Building Property: Include enough coverage (in dollars) to finish the interior of your home (flooring, cabinets, light fixtures, etc.).
Personal Property: Include enough coverage to replace personal belongings (electronics, clothing, appliances, etc.), the contents of a carport, outside storage buildings and their contents, and landscape structures that are unattached, etc.
Personal Liability: Talk with your agent.
Deductible Assessment: We recommend coverage between $25,000-$50,000, but talk with your agent.
Loss Assessment: We recommend coverage of $50,000 or more, but talk with your agent.
Additional Interest: Have your agent list the NCA on your personal policy as an “additional interest”:
The Nyland Community Association
3525 Nyland Way, Lafayette. CO 80026.
Nylanders as homeowner’s have the following responsibilities:
1. Meet annually with insurance agent to update policies.
2. Be sure your agent has read Nyland’s CC&Rs and 3rd Amendment and developed your personal policy to fit together with their contents.
3. Document, document, document:
all meetings with your agent
all personal belongings and property in your home, carport, and outbuildings
all upgrades to your home, both interior and exterior
document with pictures and/or videos, receipts, e-mail/written communication, and any other pertinent information
4. Follow through on all board and master policy notices to upgrade your personal insurance policy. The Updates page of the insurance section of the website has current information about our insurer and upgrades/adjustments needed in your personal insurance policy.
5. Report to the board any upgrades to the exterior of your home.
6. Keep updated on insurance considerations that come from Nyland, your own insurance company, and/or the public forum that can influence your policy and coverage.