Rincon Insurance Agency
Rincon Insurance Agency is a mother-daughter independent insurance brokerage based in Southern California. Co-founders, Lisa and Julia Rios are born and raised in the coastal town of Carpinteria. We bring the core tenants of loyalty and integrity that are found in our small town to all of our customers.
Community Association Insurance
Our community association insurance provides HOA (Homeowners Association) protection for various communal living arrangements, including single-family homes part of a Planned Urban Development (PUD) or Community Interest Development (CID), mix of residential/commercial/retail spaces, townhomes, and condo. Our comprehensive policies encompass Master Policy Insurance for building and common area protection, General Liability Coverage for accidents, Directors and Officers (D&O) Insurance for board members, and various other insurance offerings.
Dedicated agents securing the coverage you need
When you reach out to Rincon Insurance Agency, our team promptly initiates the quote process. Once all pertinent information is gathered, your agent submits it to various carriers to ensure you receive the best coverage for your community association's unique requirements. Despite the challenges in the California insurance market, our optimistic and diligent team is unwaveringly committed to meeting your needs.
You can contact our office weekdays or weekends via phone or email. Upon receiving an insurance quote, our team promptly sends you a proposal and is available to discuss coverages and address any inquiries you have for the community association. We invest time in explaining the intricacies of each quote and policy, empowering you to make informed decisions that fortify and protect your community association.
It's essential to note that our commitment and diligence extend throughout the claims process. Rincon Insurance Agency serves as a liaison between the insured and the insurer, assisting you every step of the way. Like a true partner, Rincon Insurance Agency stands by you in both good times and challenging times.
Tailored protection for unique requirements
At Rincon Insurance, we stand out as an independent insurance agency, and this sets us apart in the industry. We have the flexibility to work with multiple insurance carriers, providing you with a broad spectrum of options and allowing us to tailor solutions precisely to your insurance requirements. With our independence comes an unbiased approach, where our priority is to serve you. Our commitment is to your best interests, empowering you to make informed decisions about your business insurance needs.
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Common Questions
New President of the Association?
Congratulations on being the President of your community association! We understand that being in your position comes with challenges – working with others and doing your part for the association. It can get pretty busy, and your main goal is to get things done efficiently. To make getting insurance easier, we're here to help speed up the process. We'll guide you to quickly get a quote ready for your upcoming board meeting.
To facilitate this process, please be ready to provide or extract information from the following documents:
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Existing Policy Declarations Page:
- If applicable, provide a copy of your existing insurance policy's declarations page. This is not required for newly established community associations.
- If applicable, provide a copy of your existing insurance policy's declarations page. This is not required for newly established community associations.
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5-Year Loss Run Report:
- Obtain the most recent 5-year loss run report from your current insurance agent.
- Obtain the most recent 5-year loss run report from your current insurance agent.
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CC&Rs (Covenants, Conditions, and Restrictions):
- Ensure you have copies of the CC&Rs, essential for understanding the community's regulations.
- Ensure you have copies of the CC&Rs, essential for understanding the community's regulations.
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Financial Statement (if seeking D&O Coverage):
- If you are interested in Directors and Officers (D&O) coverage, provide a financial statement.
- If you are interested in Directors and Officers (D&O) coverage, provide a financial statement.
Community Association policies encompass critical components such as property insurance for communal areas, liability coverage to address potential legal challenges, and Directors and Officers (D&O) insurance to protect board members from personal liability. Our aim is to simplify the insurance process for you and ensure that your community association is well-protected.
My policy non-renewed.
After the non-renewal of my HOA policy, securing a new quote involves responding to specific questions and submitting vital documents. Here's a detailed guide on the information and documents you'll need to provide:
Building Updates:
- Include the year of construction.
- Specify updates on plumbing, roof, heating, and wiring.
5-Year Loss Run:
- Provide a copy of the 5-year loss run from the previous insurer.
- Contact your current agent to obtain this document officially.
D&O Coverage (for Community Association):
- If considering Directors and Officers (D&O) coverage, be prepared for possible requests for CC&Rs or financial statements.
Comprehensive Quote Details:
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- Furnish details such as the premium amount from the last policy.
- Provide a copy of the previous declaration page.
Being thorough in providing this information ensures a comprehensive quote tailored to your community association's specific needs.
What's included in Community Association insurance?
When it comes to safeguarding your community and investment in a Planned Unit Development (PUD), Common Interest Development (CID), Property Owner's Association (POA), or other type of Community Association in California, having a robust insurance policy is paramount. Insurance encompasses various coverages tailored to the unique needs of community associations: General Liability, Property Coverage, and Inland Marine Coverage.
General Liability Coverage: General Liability insurance is the cornerstone of protection for community associations in California. It shields the association, its board members, and residents from legal and financial repercussions arising from bodily injury, property damage, or personal injury claims. This coverage extends to incidents that occur within common areas, ensuring that the community is financially protected in the face of unforeseen accidents or legal actions.
Property Coverage: Property Coverage is vital for safeguarding the physical structures within the community. This includes coverage for individual dwelling units, common areas, and shared amenities. In California, where natural disasters like earthquakes and wildfires are potential risks, comprehensive property coverage becomes even more critical. This insurance shields against damages caused by fire, vandalism, theft, and other covered perils, offering peace of mind to property owners and the community association.
Inland Marine Coverage: Inland Marine Coverage is an often-overlooked but crucial aspect of community association insurance. This can include equipment, tools, or other items used for maintenance or improvement projects within the community.
D&O Coverage: D&O coverage for a community association protects board members and officers from personal financial loss due to lawsuits alleging wrongful acts or decision made while managing the association. It covers legal defense costs, settlements, and judgments, providing financial security for leaders serving on the associations board.
Accidental Medical Coverage: Accidental medical coverage for a community association typically refers to insurance that provides coverage for medical expenses resulting from accidental injuries that occur during association sponsored events, festivals, or gatherings.
What if we are in a high-risk fire area?
In a high-risk fire area, the foremost consideration is insurance coverage. Given the increased likelihood of property damage from wildfires, HOAs often face limitations, with General Liability becoming the primary coverage. However HOA's can obtain Property Insurance, but it may be more challenging and expensive due to the increased risk associated with wildfire-prone regions. California has seen an escalation in wildfire frequency and severity, prompting insurers to reassess their risk exposure. Please consult with your Rincon Insurance Agent to discuss the options available to your community association.
What determines the premium price?
Mitigating the impact of a claims history on new insurance coverage for a community association involves implementing proactive measures. One crucial strategy is to provide tangible proof of repairs and improvements made to address past damages. By documenting these enhancements with photographs, invoices, and detailed records, the community association can showcase its commitment to risk management. This evidence not only demonstrates a dedication to maintaining a safe environment but also expands options when seeking insurance from different carriers. Clear documentation serves as a compelling argument for insurers, illustrating the association's proactive stance in minimizing future risks and creating a secure living environment for its residents. This transparency and tangible evidence significantly enhance the association's chances of obtaining comprehensive and competitive coverage despite a history of claims.
What does the General Liability aggregate limit mean?
The General Liability Aggregate Limits within your HOA master policy represent the maximum amount the insurance company will pay for covered claims during the policy period. This limit includes all claims—property damage, bodily injury, personal injury, or other liability-related claims—over the course of the policy term. For example, if your HOA master policy has a General Liability Aggregate Limit of $2 million, once the cumulative claims reach or exceed this amount, the insurance company will not provide further coverage for the remaining policy period. Understanding and regularly reviewing these limits is crucial for ensuring your HOA has adequate coverage. In a real-life scenario, if an HOA's master policy has a $1 million General Liability Aggregate Limit and incurs several liability claims totaling $800,000, the remaining coverage available for new claims during that policy term would be limited to the remaining $200,000.
What distinguishes ACV from RCV property coverage limits?
The distinction between Actual Cash Value (ACV) and Replacement Cost Value (RCV) is crucial when determining limits for property coverage within a California HOA policy. ACV represents the property's current market value, factoring in depreciation, while RCV reflects the cost of replacing the property without considering depreciation. In practical terms, if a common area structure, like a clubhouse, is insured based on ACV, the settlement amount in the event of a covered loss considers depreciation, potentially leading to a lower payout. On the other hand, opting for RCV ensures the association receives the full cost of replacing the structure at current market rates, providing more comprehensive coverage. It's important for HOAs to carefully assess their insurance needs, considering factors such as property age, maintenance, and construction material, to make informed decisions on whether to prioritize ACV or RCV in their property coverage limits.
What makes Rincon Insurance different than traditional agencies?
We are independent insurance brokers dedicated to providing the best quality, service, and rates for our customers by comparing multiple companies. By using Rincon Insurance, the policyholder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and necessary when filing a claim. A local, independent agent, such as Rincon Insurance offers quality insurance with competitive pricing and personalized service.