Typical Village insurance quote related questions…

-05/07/07 KRies

1.) Square footage

21,870 = Square footage of each unit both structures, not including common areas.

2.) Building Limits

From the Village Declarations:

Being a vacant parcel of land containing 1.3 acres, more or less.

Twenty-one (21) apartments or more specifically six (6) one bedroom apartments consisting of approximately 722 square feet, six (6) two bedroom apartments consisting of approximately 876 square feet, six (6) three bedroom apartments consisting of approximately 1300 square feet and three (3) four bedroom apartments consisting of approximately 1494 square feet.

3.) Any other structures

Trash/Recycle shed, four ramp storage areas, and Laundry room

4.) Insurance Value of each building

02/11/05 Insurance Total Building Value = $920,000

03/15/07 Replacement cost for both buildings $2.2 Million

5.) Sprinkler or Alarm systems in place

All units have a sprinkler system, smoke & Carbon monoxide detectors and fire extinguishers are in place and inspected annually. Fire Sprinkler system has monitoring in place, along with low temperature sensors in each unit.

6.) Number of directors or officers

Village Assoc. currently has 3 directors

7.) Woodstoves or fireplaces

All units have a fireplace or wood stove

8.) Any improvements to the property since the original construction – roof, electric, heat etc.

-New roof, a few years ago

-Several electric upgrades in common area

-21 units have installed propane heating units

-Vinyl siding and exterior insulation installed 2005

9.) Do the 2nd and third floors have a second means of escape?

Second and third floor units have one means of egress, each unit has at

least one balcony but no fire escape associated with them.

10.) Past Village claims

05/16/03 Fire Damage = $59,231.88

03/19/04 Frozen Sprinkler System Repair = $6,784.20

05/07/07 No additional claims to date

11.) Current insurance annual premium cost

David Schramm of Mullen Financial Services with carrier Nationwide

03/13/0 Re-quote provided with total premium cost of $7,857.00