of<\/p>\n
THIRD LAGUNA HILLS<\/p>\n
ANNUAL INSURANCE DISCLOSURE AND POLICY SUMMARY – October 1, 2025<\/p>\n
PROPERTY INSURANCE (Renewed on 6-1-25)<\/p>\n
Blanket property insurance for fire and special form with Lloyd’s of London and other program participants insures<\/p>\n
residential, common and community buildings and business property (coverage for Unit as originally built; no coverage for<\/p>\n
improvements, alterations, additions or personal property of unit owners or residents).<\/p>\n
Policy amount: $275,000,000 per occurrence<\/p>\n
Deductible:<\/p>\n
$100,000 per occurrence<\/p>\n
Key exclusions: earthquake, landslide, (and others)<\/p>\n
COMMERCIAL GENERAL LIABILITY INSURANCE<\/p>\n
The commercial general liability insurance for the Housing Mutuals and Golden Rain Foundation (GRF) is with Philadelphia<\/p>\n
Insurance Companies, insuring against liability arising out of the ownership and use of common areas.<\/p>\n
Policy amount: $1,000,000 per occurrence<\/p>\n
Deductible:<\/p>\n
$25,000<\/p>\n
$2,000,000 aggregate<\/p>\n
There is also an Umbrella Liability policy with Great American and AXA XL Insurance Company.<\/p>\n
Policy amount: $25,000,000 per occurrence<\/p>\n
Deductible:<\/p>\n
Excess over General Liability insurance policy<\/p>\n
CRIME\/FIDELITY INSURANCE<\/p>\n
Third Mutual has a crime\/fidelity policy with Hartford and Great American Insurance Companies.<\/p>\n
Policy limits:<\/p>\n
$31,500,000 Employee Theft, Computer & Fund Transfer Fraud<\/p>\n
Deductible: $50,000<\/p>\n
EARTHQUAKE INSURANCE (Renewed on 6-1-25)<\/p>\n
Third Laguna Hills Mutual has a Difference in Conditions insurance policy with Princeton Excess & Surplus Lines Insurance<\/p>\n
Company for earthquake insurance on residential and common area buildings.<\/p>\n
Policy limit:<\/p>\n
$10,000,000<\/p>\n
Deductible for earthquake: 5% of the building value, $100,000 minimum<\/p>\n
GRF has a Difference in Conditions insurance policy with QBE Specialty and Trisura Specialty Insurance Companies<\/p>\n
including earthquake and flood for GRF facilities such as clubhouses, streets and the cable system.<\/p>\n
Policy limit:<\/p>\n
$15,000,000<\/p>\n
Deductible: $25,000 per occurrence except earthquake and flood<\/p>\n
Deductible for flood:<\/p>\n
$50,000<\/p>\n
Deductible for earthquake: 5% of the building value, $50,000 minimum<\/p>\n
This summary of the Association\u2019s policies of insurance provides only certain information, as required by Section<\/p>\n
5300 of the Civil Code, and should not be considered a substitute for the complete policy terms and conditions<\/p>\n
contained in the actual policies of insurance.<\/p>\n
Any Association member may, upon request and provision of<\/p>\n
reasonable notice, review the Association\u2019s insurance policies and, upon request and payment of reasonable<\/p>\n
duplication charges, obtain copies of those policies. Although the Association maintains the policies of insurance<\/p>\n
specified in this summary, the Association\u2019s policies of insurance may not cover your property, including personal<\/p>\n
property or real property improvements to or around your dwelling, or personal injuries or other losses that occur<\/p>\n
within or around your dwelling. Even if a loss is covered, you may nevertheless be responsible for paying all or a<\/p>\n
portion of any deductible that applies. Association members should consult with their individual insurance broker<\/p>\n
or agent for appropriate additional coverage.<\/p>\n
The total amount of insurance was discussed with the insurance broker and the Board followed their guidance.<\/p>\n
For questions regarding proof of insurance coverage have your escrow company or trust contact:<\/p>\n
AJ Gallagher Insurance Services (Property, Crime and Earthquake): Email: Southwest.InterimCerts. GGBUS@ajg.com<\/p>\n
(All requests for certificates must be sent via email and cannot be fulfilled over the phone. Standard turnaround time for<\/p>\n
issuance is within 24 hours and any request that is indicated as a \u201cRush\u201d in the subject line is fulfilled same day if received<\/p>\n
by 12:00 p.m. PST. Requests should have \u201cThird Laguna Hills Mutual\u201d in the subject line)<\/p>\n
If you have questions about the Mutual’s insurance policies, please call Risk Management 949-597-4202.<\/p>\n
The following insurance information should be discussed with your personal insurance agent.
\nTHIRD LAGUNA HILLS MUTUAL INSURANCE DISCLOSURE AND POLICY SUMMARY<\/p>\n
THE INSURANCE CARRIED BY THIRD MUTUAL AND GRF DOES NOT COVER YOUR PERSONAL LIABILITY<\/p>\n
OR ITEMS THAT ARE YOUR PERSONAL RESPONSIBILITY such as improvements, alterations and additions,<\/p>\n
personal property, or loss of use. The Mutual’s property insurance only covers the Unit as originally built. OWNERS<\/p>\n
SHOULD PURCHASE a \u201cCONDOMINIUM OWNERS\u201d (HO-6) INSURANCE POLICY to protect against unexpected<\/p>\n
expense in the event a loss occurs. This is also a requirement for many lenders. Please advise tenants\/lessees<\/p>\n
that they should purchase \u201crenters\u201d insurance for their personal liability, personal property, and loss of use.<\/p>\n
SOME* ITEMS YOU SHOULD CONSIDER WHEN REVIEWING YOUR OWN PERSONAL INSURANCE:<\/p>\n
*<\/p>\n
Owners are responsible for damage to the interior of their Unit (property for their exclusive use) as well<\/p>\n
as improvements, alterations and additions (CC&Rs Article XIII, Section 3). This includes carpet and floor<\/p>\n
coverings, paint, wall, and window coverings, cabinets, appliances, water heater, air conditioning, kitchen,<\/p>\n
bathroom, and lighting fixtures, and other property inside your manor (CC&Rs Article I, Section 40). Repair of<\/p>\n
damage to such items, including personal property, from a loss such as a plumbing failure in your manor<\/p>\n
or an adjacent manor, is the responsibility of the individual owner or tenant. If the repair estimate exceeds<\/p>\n
the deductible on the Mutual’s property policy, which is currently $100,000, a claim will be submitted to the Mutual’s<\/p>\n
insurer which will include the cost to repair the \u201cstandard interior\u201d (as originally built). The Mutual’s property insurer<\/p>\n
does not accept claims for damage to improvements, alterations, additions, personal property, etc.<\/p>\n
Owners are responsible for damage to Mutual-controlled property caused by the Owners\u2019 misuse or neglect,<\/p>\n
by additions or alterations, or by guests or lessees. If the damage is your responsibility, Third Mutual can charge<\/p>\n
you for the repairs (CC&Rs Article 1V, Section 3).<\/p>\n
If the repair costs exceed the deductible on the Mutual’s<\/p>\n
insurance, currently $100,000, a claim will be submitted to the Mutual’s property insurer. In such cases, both the<\/p>\n
Mutual and its property insurer reserve the right to charge the Owner to recover the costs, including the Mutual’s<\/p>\n
deductible.<\/p>\n
Your own insurance may help cover your obligations, although some homeowner’s insurance<\/p>\n
companies will not cover the Mutual’s deductible. Consult with your agent about your insurer’s practices and<\/p>\n
increasing your policy limits accordingly.<\/p>\n
Personal Property\/Contents insurance for items such as appliances, furniture, clothing, household goods and<\/p>\n
for special property like jewelry, coins, artwork, antiques, furs, silver, and collectibles.<\/p>\n
Personal Liability insurance for your actions and responsibilities both inside and outside your manor. Everyone<\/p>\n
should have liability insurance to protect their equity and retirement savings.<\/p>\n
Loss of Use or Additional Living Expense insurance if your manor\/building is damaged and cannot be lived in<\/p>\n
until repaired, in accordance with the Davis-Stirling Act Civil Code \u00a74775(c), members, residents and lessees are<\/p>\n
responsible for paying to live elsewhere while work is done. Monthly assessments must still be paid during this<\/p>\n
time.<\/p>\n
Loss assessment insurance to protect against a special assessment from the Mutual for damage. While there<\/p>\n
has not yet been this type of assessment in Laguna Woods Village, we are required to tell you that this is a<\/p>\n
possibility. (Show your agent\/broker the limits listed in this disclosure.)<\/p>\n
Earthquake and\/or Flood insurance for the interior of your Unit, additions, alterations, personal property, and<\/p>\n
loss of use.<\/p>\n
Earthquake Loss Assessment insurance to protect against a special assessment from the Mutual for damage<\/p>\n
caused by an earthquake.<\/p>\n
Automobile insurance on your car, truck, van, motorcycle, or motor home.<\/p>\n
Liability and Physical Damage insurance for your golf cart.<\/p>\n
Please report building damage to:<\/p>\n
Resident Services (Monday-Friday, 8:00 AM to 5:00 PM)<\/p>\n
phone: (949) 597-4600<\/p>\n
Resident Services e-mail address:<\/p>\n
residentservices@vmsinc.org<\/p>\n
After business hours, or to report personal injury, please call:<\/p>\n
Security Dispatch: phone: (949) 580-1400<\/p>\n
In an emergency: CALL 911<\/p>\n
*The above list is not exhaustive. Please discuss insurance questions with your agent or broker
\nTHIRD LAGUNA HILLS MUTUAL INSURANCE DISCLOSURE AND POLICY SUMMARY<\/p>\n
PROPERTY INSURANCE – Continued<\/p>\n
Primal<\/p>\n
10,000,000<\/p>\n
$100,000,000 Excess of $125.000,000<\/p>\n
Sutton Specialty Ins Co., Limit: $2,000,000<\/p>\n
Axis Surplus Ins. Co., Limit: $5,000,000<\/p>\n
Ironshore, Limit: $5,000,000<\/p>\n
Primal<\/p>\n
50,000,000<\/p>\n
Lloyd’s of London, Limit: $5,500,000<\/p>\n
National Fire & Marine Ins. Co., Limit: $3,850,000<\/p>\n
Lloyd’s of London, Limit: $13,900,000<\/p>\n
Ironshore Specialty, Limit: $2,500,000<\/p>\n
Landmark American, Limit: $22,500,000<\/p>\n
Westchester Surplus Lines Ins. Co., Limit: $2,500,000<\/p>\n
Princeton Excess & Surplus Lines, Limit: $35,000,000<\/p>\n
Allied World National Assurance, Limit: $3,000,000<\/p>\n
Starr Surplus Lines Ins. Co., Limit: $12,500,000<\/p>\n
Lexington Ins. Co., Limit: $5,000,000<\/p>\n
Canopius US Insurance, Limit: $5,000,000<\/p>\n
$30,000,000 Excess of $225,000,000<\/p>\n
Everest Indemnity Ins. Co., Limit: $5,000,000<\/p>\n
Lloyd’s of London, Limit: $30,000,000<\/p>\n
Lloyd’s of London, Limit: $13,625,000<\/p>\n
$20,000,000 Excess of $255,000,000<\/p>\n
$40,000,000 Excess of $10,000,000<\/p>\n
Lloyd’s of London, Limit: $13,000,000<\/p>\n
Aspen Specialty Ins. Co., Limit: $2,500,000<\/p>\n
Princeton Excess & Surplus Lines, Limit: $7,000,000<\/p>\n
Evanston Ins. Co., Limit: $4,375,000<\/p>\n
$50,000,000 Excess of $50,000,000<\/p>\n
Endurance American Specialty, Limit: $2,500,000<\/p>\n
Arch Specialty Ins. Co., Limit: $5,000,000<\/p>\n
Starstone Specialty Ins. Co., Limit: $5,000,000<\/p>\n
Kinsale Ins. Co., Limit: $5,000,000<\/p>\n
Steadfast Ins. Co., Limit: $5,000,000<\/p>\n
Princeton Excess & Surplus Lines, Limit: $10,000,000<\/p>\n
Starr Surplus Lines Ins. Co., Limit: $10,000,000<\/p>\n
Lloyd’s of London, Limit: $10,000,000<\/p>\n
$25,000,000 Excess of $100,000,000<\/p>\n
Landmark American Ins. Co., Limit: $2,500,000<\/p>\n
Kinsale Ins. Co., Limit: $2,500,000<\/p>\n
Evanston Ins. Co., Limit: $2,500,000<\/p>\n
Crum & Forster Specialty Ins. Co., Limit: $5,000,000<\/p>\n
Starr Surplus Lines Ins. Co., Limit: $5,000,000<\/p>\n
Nautilus Ins. Co., Limit: $6,250,000<\/p>","protected":false},"author":2,"featured_media":0,"template":"","document_category":[1077],"document_type":[53],"class_list":["post-48777","document","type-document","status-publish","hentry","document_category-sales-third","document_type-other"],"acf":{"document":76839,"resolutions":null,"legacy_id":"2400","pdf_extracted_text":""},"yoast_head":"\n