Loss Assessment Coverage for HOA Properties

If you own a condo or belong to a homeowner’s association (HOA), loss assessment coverage can be essential:

• Shared Property Claims: This coverage helps pay your share of expenses if the HOA charges unit owners to cover major property damage or liability claims.
• Extra Protection: Especially helpful if you’re in a large complex or high-value building with common areas, pools, or gyms that could result in high assessments after a loss.