Emily Vasquez

Sep 11, 2024 | usnews.com | Emily Vasquez |Jennifer Mesce

Key Takeaways:   Loss assessment coverage helps cover unexpected costs from HOAs, such as repairing unexpected damages (after a storm or accident) and liability costs (if someone is injured in a common area). This coverage is not legally required in most U.S. states but may be essential depending on your situation. Coverage costs vary based on location, property type, and HOA risk factors.