Condo VII – July 2024
DATES TO REMEMBER
• July 4 – Independence Day
As we celebrate our country’s 248th birthday please remember that under New York State law it is illegal to own, sell, or use fireworks and that means it is also illegal in Bretton Woods. So no firecrackers, skyrockets, Roman candles, bottle rockets, or anything else that explodes or goes up in the air. Setting off fireworks could result in you being charged with disorderly conduct, reckless endangerment, or both which is a felony. If you see the illegal use of fireworks, call 911.
We recently updated our Resident Information Booklet and it was distributed to all residents and homeowners. Keep it handy as it contains important and valuable information regarding life in Condo VII. If for some reason, you did not receive a copy, please email the Board so we can arrange for you to get one.
The Board is starting to look into replacing our signage to make it easier for visitors, delivery people, and emergency personnel to find specific addresses. In the meantime, whenever possible, in addition to providing your home address also include the number of the parking plaza closest to your home. This can be especially helpful to police, fire, and paramedics.
Wildlife – A reminder that bird feeders are not allowed. We also ask that you do not put out food for squirrels, deer, stray cats, etc. Doing so attracts rats, raccoons, and other unwanted vermin. Also do not have any basins or bird baths with standing water. Stagnant water is a breeding ground for mosquitos.
Guests – Please ensure your guests are aware of our house rules and by-laws as they are also required to follow them. This includes but is not limited to, driving the speed limit, obeying the stop signs, parking properly, appropriately disposing of trash, and properly utilizing the clubhouse facilities. As a resident, you are responsible for the actions of your guests.
The below information has been provided by our insurance broker, Bradley & Parker, Inc.
Why condo owners need their own policies
Your HOA and condos associations both have insurance that covers the main parts of your building and its surrounding common areas. But many condo association’s master policies do not cover most of the items within your condo unit, and the items that are covered will only be replaced to the “point of delivery”. That means, the replacement will be of similar quality as was used when your unit was originally built (i.e. basic linoleum flooring, Formica tops, and basic cabinetry, etc.).
If you are like many other uninsured/underinsured unit owners you might not have coverage for any unit updates that you’ve made, or for the contents inside your unit (i.e. clothes, furniture, jewelry, etc.), along with possible condo assessments. Worse yet, without your own condo policy you would not be covered for any lawsuits made against you and your family, or for accident damage that you might do to other unit owner’s property (i.e. water damage from a frozen pipe burst, etc.).
As a prudent risk management decision you may want to consider a condo unit owners policy with limits no less than:
Personal Liability – $300,000 or more
Liability coverage protects you against the financial consequences of liability to others for bodily injury and property damage. This also insures the cost of defense in addition to the policy limit.
Loss Assessment – $500,000 or more
Loss Assessment provides protection for your share of a covered loss to property owned in common by all members of a property owner’s association.
Personal Property (Your Contents) – $25,000 or more
Personal property includes items such as clothing, furniture, TV’s & computers, etc. For property that receives limited coverages such as jewelry, fine arts, silverware and similar property, you may want to consider separately scheduling these items.
Additions & Alterations – $50,000 or more
Improvements that have been made to the unit such as upgraded kitchens, bathrooms, flooring and wall coverings are covered under this section of the policy.
Catastrophic Personal Liability (Personal Umbrella) – $1,000,000 or more
A Personal umbrella policy provides higher limits of liability to protect you against liability losses. The limits of coverage stack up on top of the primary coverage provided by your homeowner, personal auto and watercraft policies for bodily injury, property damage and personal injury. This policy also provides some additional overages that are not provided under the primary liability policies such as worldwide coverage.
The Board recommends that all owners have their own insurance policies. In addition, renters should also have coverage for Personal Liability, Personal Property, as well as a Personal Umbrella policy.
Condo VII Board of Managers
brettonwoodscondo7@gmail.com
Thought for the month
“True patriotism springs from a belief in the dignity of the individual, freedom and equality not only for Americans but for all people on earth.” – Eleanor Roosevelt