12/27/2018 Emergency Meeting Minutes

Chinquapin Homeowners Association Board
Emergency Meeting Minutes
Thursday, December 27, 2018

Carriage House, Chinquapin
3600 North Lake Blvd
Tahoe City, CA  96145

Directors Present

In Person:
Charles Quaglieri, President
Anthony Miles

By phone:
Terry Sarvas, Vice President
Steve Giacomi, Treasurer
Clint Harless, Secretary
Annie Mitchell

Directors Absent: Carl Bertelsen

Others Present:
Bryan Costello, Insurance Committee
Brad Kohler

Homeowners Present - none

I. Call to Order - President Quaglieri Called to Order at 10:04AM – Announcement of Emergency Meeting for the purpose of discussing Chinquapin Property Insurance.

II. Mr. Miles – introduction of the Insurance situation.

III. Insurance topics:

  • Base policy in place, with the cost of such effectively consuming the entire budgeted amount of $210,000 for 2019.  This base policy provides $50MIL of insurance with a $100K deductible across the board, (in all circumstances, not just water).  This amount is not enough to cover the whole property in the case of a major loss. An additional $75MIL of insurance may be purchased for $176,455.  The total of $125MIL, combined with the approximate $17MIL from HO6 policies, should be enough for full coverage.
  • Mr. Costello noted that CHOA is “lucky” to be a part of the program in place, as there are many properties having to buy insurance at extraordinary rates. Mr. Costello also clarified general insurance procedures, pricing, and policy.
  • Mr. Harless asked that two items be looked into:  1) that the total amount of insurance will satisfy any mortgage requirements, and that 2) that the “Directors and Officers” insurance provide as much coverage as required for any reasonable occurrence.
  • All agreed that more research should be done on the actual replacement value of all the structures on the property.  The value for a full rebuild of the property should be known. A proper entity for this effort should be sourced in the near future.
  • Homeowners shall be notified of the new $100K deductible, with a recommendation to supplement their individual HO6 policies.
  • The Chinquapin insurance policies, both initial and supplemental, have been “bound”, and both method and timing of payment for these will be looked into by Mr. Giacomi.  


A Motion was made and Unanimously PASSED to:

  1. Purchase an additional $75MIL in insurance for the price of $176,455.00
  2. Secure an “appraisal” for the price of a full property re-build/replacement
  3. Investigate and purchase additional “D&O Liability” insurance, as needed

V. Meeting adjourned at 10:55AM