Insurance Policy Information

Insurance Information

As outlined in the Cross Creek Condominium Association Bylaws, the Association is required to provide property insurance to insure the basic elements of the buildings, standard finishes and fixtures, as well as any common areas throughout the property.  As such, it is the responsibility of the condo owner to secure coverage to protect your personal property, building additions, betterments, and alterations including upgrades of finishes and fixtures.  The Association carries the following limits and deductibles:


Building – $116,735,662

Flood – $1,000,000

Earthquake – $1,000,000


All Other Perils – $5,000

Wind per Building – $2,500

Water per Unit – $15,000

Earthquake – $25,000

Flood – $100,000

Each condo owner is responsible for the first $5,000 of any property claim in order to cover the Association’s deductible.  In the event of water damage, the condo owner is required to cover the first $15,000.  We recommend that you discuss this situation with your agent and purchase insurance to provide protection for the portion of the loss that you are responsible for.

We recommend the following coverage amounts under an HO-6 policy to protect your interest in the property as well as your personal liability:

  • Tenant Improvements and Betterments – 100% Replacement cost of any upgrades over the original builder grade materials as well as any other alterations you may have made to the unit.
  • Personal Property – 100% Replacement cost of your personal property inside the unit
  • Personal Liability – $300,000 Limit
  • Medical Payments – $5,000 Limit
  • Additional Living Expense – $25,000 Limit
  • Loss Assessment Coverage – $50,000 Limit

Please be advised that these limits are merely a recommendation.  You should work with your agent to determine the appropriate levels of coverage to protect your interests.

If you ever have any questions or would like to talk further on this topic, please do not hesitate to contact the management office.