Subject: Special Board Meeting Regarding Home Insurance
Dear CHOA Members,
I trust this message finds you all in good health and spirits. I am writing to provide you with notice of a special board meeting, next Tuesday March 26 at 2:30pm, in Rec Hall C. I have called this meeting – with unanimous consent of the board – to discuss potential savings regarding the CHOA home insurance policy.
Recently, the CHOA board has engaged in discussions with State Farm regarding the potential adjustment of the owner deductible on our home insurance, proposing an increase from $10,000 to $25,000. After thorough evaluation, State Farm has indicated significant potential savings for our HOA. This adjustment will lead to reduced insurance costs for each CHOA member. Even if the owner’s personal insurance premiums increase slightly, the overall financial benefit is anticipated to be favorable for all. To be clear, your CHOA HOA insurance will go up this year regardless of what we do, but if we make the suggested change, it will go up less.
With the imminent renewal of our State Farm policy scheduled for March 29, it is paramount that we act swiftly to leverage any potential savings. Consequently, I have arranged for a concise special board meeting to be held next Tuesday at 2:30 PM. The meeting will take place via Zoom (https://pdx.zoom.us/j/81792034875), and in person at Rec Hall C.
I understand the short notice for this meeting and apologize for any inconvenience it may cause. However, the board unanimously agrees on the urgency of this decision to seize the opportunity presented. Your attendance and participation, along with any questions or concerns you may have, are highly encouraged as we endeavor to make a well-informed decision that serves the best interests of our community.
Thank you for your attention to this matter.
Warm regards,
Randy Hitz, CHOA President