Loss Assessment Insurance

[share88]

I was the one who asked about HOAs on another thread - thanks again to all who have answered. I am still looking into things but I ran across an old article online tonight that I thought could be worthy of it own thread.

njcooperator.com/articles/271/1/The-Value-of-Loss-Assessment-Coverage/Page1.html

Summarized as: coverage which pays on an association member's behalf their share of an assessment charged against all members as a result of a covered loss.

Now I don't live in New Jersey, have no idea (yet) how commonly available this is or if I would need/want it (no idea of costs/coverage/etc), but it seemed an intriguing thing to look into so I thought I would mention it here in case someone else is could benefit from looking into it for themselves.