"This policy extension covers assessments made against you and all other owners by the Association for covered property or liability losses. It can also cover assessments made against only your unit."In plain terms: if the HOA is hit with a large claim that exceeds its master policy (or falls within the deductible), the shortfall is split across all unit owners as a special assessment. Your loss assessment coverage pays your share.
"We would recommend you carry, at minimum, $100,000 in loss assessment coverage."This is the HOA's own insurer (HUB International) making the recommendation — it matches the occupancy requirement exactly.
"Assessments for Earthquake damage is not covered, however some carriers offer it. Contact your agent to discuss how your policy will respond and what options are available."The HOA carries a 5% earthquake deductible on a $29.8M policy — that's up to ~$1.49M split among 43 units (~$34,700/unit). Standard loss assessment coverage would NOT cover this. Ask specifically about an Earthquake Loss Assessment rider.
"You should carry coverage in the amount of at least $100,000 — the Association's deductible for which you may be responsible."This is separate from loss assessment. Coverage A (Dwelling) on your HO-6 should also be at least $100K to cover your potential responsibility for the master policy's standard deductible.
"Owners required to show proof of $100K loss assessment coverage to management company prior to occupancy. See 2025-2026 Insurance 'Cheat Sheet' for Recommended Policy Coverage details."This is a hard requirement enforced by CWD — not just a recommendation. Proof must be submitted before move-in.
| Coverage | Limit | Deductible |
|---|---|---|
| Property (all-in, walls-in) | $33,200,000 | $50,000 blanket |
| Water Damage | Included above | $100,000 per occurrence |
| Earthquake | $29,800,000 | 5% of rateable limit |
| Flood | $10,000,000 | $100,000 |
| General Liability | $1M / $2M aggregate | $1,000 |
| Umbrella | $25,000,000 | None (SIR) |
| Directors & Officers | $1,000,000 | $1,000 |
| Fidelity / Crime | $1,400,000 | $10,000 |
| Document | Date | Location | Loss Assessment Content |
|---|---|---|---|
| Certificate of Insurance.pdf | Apr 30, 2025 | Mar 14 Docset From Paul\ | Full definition of loss assessment; $100K recommendation; earthquake exclusion; Coverage A guidance |
| Disclosure Resale Report.pdf | Nov 19, 2025 | Mar 14 Docset From Paul\ | $100K requirement stated twice; full HOA master policy coverage table; insurance broker contact |