home owners insurance as a part of association fees (Oak Park)

[oakparkresident_IHB]

<p>I live in Oak Park in Irvine (part of Oak Creek). Does anyone have any idea what is the type of insurance we get with HOA fees? Since the Oak Park is an attached home community (condos) we certainly have some kind of protection in the case of disaster, it is just that I do not have any details about it. In the past, I have tried to get the info about insurance from the HOA administrator, but the response was very sparse. Any ideas?</p>

 

[momopi_IHB]

You can check with Action Property Management at (949) 450-0202





The Oak Park HOA web site is at:


http://www.myhoa.com/oakpark/





They get liability insurance from Spectrum Risk Management (949) 756-5730





I'm reading the 2006 operating budget disclosure and it says they bought property insurance ($51 million with $10k deductible) and general liability insurance ($2 million), plus Fidelity bond (business insurance, $900k). Currently they do NOT carry earthquake or flood insurance. If you're interested in buying one, check with Geovera.com.