March 2009
Richard W Endlar Insurance Agency Inc Newsletter
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Richard W. Endlar established the Richard W. Endlar Insurance Agency in 1975 after many years in the insurance industry. The Richard W. Endlar Insurance Agency was located at 210 Boylston Street in Chestnut Hill, Massachusetts until February 2000 when a major fire necessitated a move to new quarters. The agency is now located at the Rosemary Office Park in Needham, Massachusetts, centrally located from route #128.
The Richard W. Endlar Insurance Agency currently insures over 1,500 condominium associations, making us one of the largest writers of this class of business in Massachusetts. Depend on us for our expertise and our extensive list of insurance markets.
Your insurance policy and what is says about vacancies
 
In these tough economic times there are more and more associations discovering they have vacant units either due to bank forclosures or the owners having left the premises.  Don't assume that you are covered if the insurance company is unaware of the situation. All insurance policies have vacancy clauses that either restrict or eliminate coverage.

The best defense against vacancy is a better offense.
  • Tell your insurance agent immediately if there is a vacancy in your building. In some instances the insurance company can change the policy to "allow for vacancy". If the vacancy is not acceptable to your insurance company, then we will need to change your insurance company.
  • If you can gain access into the vacant unit, make sure that all water systems are drained and shut-off. If at all possible, make sure that adequate heat is maintained during the cold months to prevent freezing.
  • Install sensors that will alert the owner or the property manager if water starts to leak or the tempature falls below a certain level.
In the event of a claim, the insurance adjusters are trained to thoroughly investigate the cause of loss and apply the policy provisions. We can't emphasize enough the importance of notification. Failure to notify does not eliminate the vacancy clause.

What does your policy say?

Community Association Underwriters (CAU)

Greater New York Mutual

Philadelphia Insurance Company

MiddleOak Specialty

Vermont Mutual

Tower Group

Arbella Mutual

Breeds Hill Program (Nova Casualty)
 
Condo Documents on-line at FTP

 
In our effort to "go paperless" we are scanning all the condominium documents for our condominium association's.
 
If you visit our website you will now see a link to our FTP site where you can download any of this information into an electronic file. Try it, it's free!
 
 
Richard W Endlar Insurance Agency Inc
781-455-6664 Phone
781-453-0209 FAX
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Richard W Endlar Insurance Agency Inc | 145 Rosemary Street | Building K | Needham | MA | 01760