TLOB Renegotiates Insurance Policies for Community

Result: Better Coverage and Savings

In an effort to obtain optimal coverage and pricing for Twin Lakes of Brandon the Board in December of 2020 requested a review of all existing insurance and workman compensation policies.  These policies include coverage for the following structures and equipment that exist in our community

  • Gate House
  • Clubhouse/Bath House
  • Fencing
  • Security Cameras
  • Gazebos
  • Sign Board at Entrance
  • Swimming Pool
  • Pool Equipment
  • Recreation Court
  • Playground Equipment

Based on the results of an appraisal (which verified that the value of the items listed above were both current and accurate) conducted in January of 2021, combined with an extensive review and bid process the Board is pleased to announce the following outcomes:

  • Annual savings of $1,086 in premium
  • Reduction from 3% to 2% in hurricane deductible

Also, conservatively, an additional estimated refund of $600 is expected based on overpayments that have been made over the past years since more homes were reported/covered under these insurance policies than what exist in Twin Lakes of Brandon.

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