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Fire and Liability Insurance Program (FLIP)
The Fire and Liability Insurance Plan is dedicated to negotiating and obtaining the most competitive insurance for HDFCs. This successful program has been running for over 20 years and currently insures over 530 buildings
Coverage
Fire coverage includes:
• building property
• backup of sewers
• flood and earthquake
• ordinance or law
• loss of business income
• office contents
The policy is written on an Agreed Amount & Replacement Cost basis.
General liability coverage includes:
• lead paint liability, terrorism, mold, fungus and spores
• protection against most third party liability claims
• non-owned auto
Eligibility
Subscriptions in FLIP are open to qualifying HDFCs. To qualify, an HDFC must provide prior loss history, remove old violations and must pass inspection. UHAB will assist HDFCs through the application process.
Premium and Fees
• FLIP fee: an annual administrative fee of 1/2 cent per square foot.
• UHAB Membership fee: $5 per unit per year.
• Annual Insurance Premium: This may be paid in full to the insurance broker or paid in 9 monthly installments financed through AICCO. Your broker will set this up for you.
How to Apply
To get an insurance quote and find out how FLIP prices compare to your current policy, contact Melanie at 212-479-3374 or insurance@uhab.org.
Reminders:
If your HDFC is considering joining or switching to FLIP, be sure to check the expiration date of your current insurance coverage. Do not let your current coverage lapse.
FLIP is a program administered by the Urban Homesteading Assistance Board for the benefit of UHAB members and is brokered by Bollinger Inc., New York Division. (http://www.bollingerinsurance.com/ny/
)
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