Insurance Costs

At the Delegate Assembly we were also told we pay $ 700,000.00 for $ 1,000,000.00 in for liability coverage, including the complaint that “its too much for only $ 1,000,000.00!

All four villages are covered by this policy, and we pay our pro-rata share, as we always have. The coverage provides $ 1,000,000.00 PER INCIDENT! That coverage protects all incidents UP TO $ 1,000,000.00 FOR ALL FOUR VILLAGES.

If each Village had multiple incidents and claims by residents falling and each claim cost $ 1,000,000.00, and all are covered, why was someone complaining about this cost?

Most cases are for smaller amounts, but each incident IS COVERED UP TO 1 MILLION, without limits on the number of cases involved.

This is a good plan – so far as I can see!

We need professionals to speak to these kinds of issues, so we GET THE FACTS!