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Welcome to the community website for South Oaks III Homeowner's Association Hastings MN!
This site will provide a single place where South Oaks III Homeowner's Association Hastings MN residents can find news and information or discuss issues about the community
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****IMPORTANT - Action Required by Each Homeowner****
Dues will be going up to $255 per month starting
January 1st, 2025
****IMPORTANT - Action Required by Each Homeowner****
The Association’s Master Insurance Policy is renewing shortly. Unfortunately, we’re seeing rate and deductible increases like we’ve never seen before. We’ve been working with three different agents to ensure the best rates and coverages for the association. Below are the updates:
q Master Policy Premium went up 109%
o 2022 premium was $14,257 per year, now it's $29,814 per year
q Master Policy Deductible is went up by 1,500%
o Previous Deductible was $25,000, now it's $400,000
q HO-6 Polices with Mandatory coverage amounts are now required for each homeowner
o What’s an HO-6? An HO-6 policy is personal property coverage for the items in your home as well as to cover Loss/Assessments should the association need to file a Master Claim
o HO-6 policies were previously optional but are now mandatory. With the deductible going up so high, there’s no other way to ensure a claim can be filed and the deductible met
o Most of our homeowners already have an HO-6 policy as it’s something we talk about often. If you already have one, great! only a small change needs to be made on it
o If you don’t have an HO-6 policy, contact your insurance agent immediately and get one
q ****ACTION REQUIRED**** Everyone needs to contact their Insurance Agent and have your HO-6 Loss/Assessment amount increased to at least $20,000
q Make sure to add South Oaks III Association as an Additional Interest to your HO-6 policy: Below is the association’s contact information to add to your policy:
o Address: 5912 West 35th Street, Minneapolis, MN 55416
o E-mail: board@soaiii.hoaspace.com
Per the city of Hastings, a snow emergency goes into effect with 2 inches or more (meaning you could be towed or ticketed). More details can be found by clicking on the below link:
City of Hastings Snow Emergency Rules:
https://www.hastingsmn.gov/residents/my-safety/snow-emergency
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