The Insurance Committee oversees the Georgetown Square HOA insurance policies and informs homeowners about those policies. Most of the work is done during the first three months of the year, and occasionally, it is necessary to meet in person or through e-mail several times a week. In order to carry out those responsibilities, the chair and members do the following:
- Early in the year, solicit bids from at least three insurance firms for our general liability policy, which falls due at the end of March.
- Go over the bids and make a recommendation to the Board at least five days prior to the renewal deadline.
- Keep homeowners informed, via the minutes or direct mailings (or the website) of any changes in policy coverage, and of the coverage homeowners are expected to carry for the wind/hail damage assessment.
- Supply homeowners with a copy of the cover page of the policy, as needed for mortgage transactions or other business.
- Report at the monthly board meeting via the Chair or Board Liaison.