Certificate of Insurance requests

Some mortgage lenders require a Certificate of Insurance for their files whenever the Manors Condo Association's property & casualty insurance policy is renewed. If your mortgage lender is one of them, please follow the information in this posting when they notify you.

First, some background:

I've learned that condo association policies like ours all expire on the same date, nationwide. Our last policy expired on April 15, 2011 but it was automatically extended to May 1, 2011 because of delays caused by volatility in the wholesale insurance markets due to recent catastrophes around the world.

Despite the turmoil and delay, our agent's shopping-around among different wholesale insurers produced an 11.4% decrease in our 2011-2012 premium compared to last year's (and a 14% reduction compared to 2009-2010, despite having added 15 more units since then). Also, the 15 day extension was billed at the new rate. The new policy results in an $1,100 savings compared to last year's insurance costs and a favorable variance of $1,380 in our 2011 budget's insurance line item.

According to our agent at Associations Insurance Agency, Inc. (AIAI), insurance carriers do not track each unit's mortgage lender and thus cannot automatically send a Certificate of Insurance out to them when the policy is renewed. In addition to the added costs involved, it would be very difficult to "due to moves, payoffs and mortgage lenders selling to another mortgage lender", etc. Also, not all mortgage lenders require a new Certificate every time the policy is renewed. Therefore, the Certificates of Insurance are provided on a "pull system".

Here's the quickest way to obtain a Certificate of Insurance for your mortgage company:

UPDATE: As of April 2014, we have a new insurance agent and coverage is now provided by Nationwide Insurance.   CLICK HERE to read the current method for requesting a Certificate of Insurance.


1) Click here to download and print out an MS Word document containing the AIAI Certificate of Insurance Request form
2) Fill-in the required information, including the following

• a) Name of Association: Manors at Central Park Condominium Association
• b) Property Management Company: Associa Kramer-Triad Management Group
• c) Why do you need a Certificate?: my mortgage lender is requesting it
• d) Mortgagee: (insert name & address of your mortgage lender)

3) Fax or e-mail a scan of the completed form to AIAI (their fax number and e-mail address are in the upper right corner of the form). You also have the option of calling their phone number to submit your request.
4) Wait for your Certificate to be faxed or e-mailed to you
5) Forward the Certificate as instructed by your Mortgage Lender (you have 30 days to get the Certificate to them before they can impose a penalty fee).

AIAI typically sends out the Certificate within 1 hour of receiving your request during business hours, except during the 2 week period following the May 1st policy renewal date, when due to AIAI's extra workload it might take several days or more before they can get it sent out to you.