A: A “captive” agent is one that works exclusively with one carrier and is obliged to write business only with that carrier. As an independent agent, LaBarre/Oksnee has appointments with multiple carriers which allows us to work on behalf of our clients to provide excellent coverage at competitive premiums.
A: Your association is required to maintain certain types of insurance that address exposures specific to the operation of community associations. Condominium property policies include property coverage for causes of loss such as fire, sudden and accidental water damage, aircraft, etc. Coverage for buildings is included, but the extent of which is normally communicated within your governing documents, called Covenants, Conditions, and Restrictions (CC&Rs). Your CC&Rs should include an insurance section, which advises the type of insurance the association is required to maintain versus the type that should be obtained by individual homeowners to protect their assets and liability. Coverage is generally explained as Bare Walls, Single-Entity (Original Construction), or All-In (Including Betterments and Improvements). Homeowners are usually encouraged or required to purchase a Condominium Unit Owner’s policy (HO-6) to protect their personal property, personal liability, and additional coverage that may not be included in the association’s policy.
A: LaBarre/Oksnee believes that every association needs to purchase Workers’ Compensation coverage even if it does not employ anyone. Although your association does not have direct employees, Workers’ Compensation coverage protects against contractors who fail to maintain coverage and become injured while performing work on the association’s behalf. Coverage may also extend to appointed and/or elected association board and committee members who perform light tasks on behalf of the association.
A: Our knowledgeable and professional agents strive to make the quoting process as simple as possible. To obtain a quote, simply click on the “Request a Proposal” icon which can be found on our home page.
A: We strive to make the certificate requesting process a smooth one so as to ensure the highest level of customer service for our community association management company clients and homeowners. LaBarre/Oksnee has partnered with EOI Direct for the delivery of our condominium certificates of insurance. EOI Direct is an online utility ( www.eoidirect.com) designed to provide 24/7 access to condominium certificates of insurance so our company is able to meet the demands of certificates of insurance at any time. EOI Direct runs a responsive help desk (1+877-456-3643) that will accommodate those who do not have internet access and to help those who do not wish to go online to obtain this information. To request a certificate, click on Request a Certificate.
A: The catastrophic events that occurred on March 11, 2011 in Japan have raised concerns in California regarding the next “Big One.” The Great East Japan Earthquake, which was magnitude 9.0, caused billions in structural damage. In 2008, scientists using a new model to determine the probability of big earthquakes determined that California has more than a 99% change of having a magnitude 6.7 or larger earthquake within the next 30 years (ScienceDaily, 2008). Currently, if your association were to experience a large loss due to an earthquake, it is very possible that once the repair and assessments costs are calculated, your association would not be able to rebuild. Our company has extensive earthquake policy experience and has appointments with several “A” rated earthquake carriers. We are more than happy to obtain an earthquake policy quote for your association. Because the threat of earthquake is ever-present, LaBarre/Oksnee suggests that your association consider the purchase of this important coverage.
A: LaBarre/Oksnee policies include 100% Replacement Cost as valued by the Marshall & Swift / Boeckh Building Valuation Estimated Replacement Cost Reports and/or calculated by individual carrier “in-house” Replacement Cost Valuation software. The valuation reports are based on ISO (International Organization for Standardization) data collection and are rated on building characteristics such as construction details, building square footage, property location, and other special features specific to each building. Please note that replacement cost is not the same thing as market value, which sometimes proves a source of confusion.