[WSBARP] Question about HOA condo insurance

[Laird, Katherine]

Listmates:
I am trying to better understand the interplay between condo unit owners' property insurance coverage and an HOA's master policy.  What happens if the HOA's policy limits are not adequate and a casualty cannot be fully addressed?   For example, the HOA's coverage limits do not cover reconstructing the condo building in the event of a destructive fire.  I know the condo unit owners carry, or should carry, loss assessment coverage, but I also suspect that most owners do not carry enough loss assessment coverage to address a major event.   If anyone is willing to spend a few minutes on the phone with me  I would appreciate a mini tutorial.  OR if you are able to refer to me to a treatise or great article I would appreciate the referral.  I have consulted the internet and have yet to find guidance that is comprehensive  (or not written by folks who want to sell you more insurance).
Thank you for your wisdom, which seem to me to be boundless on this listserv.
Katherine

Katherine Kramer Laird
CenturyPacific, LP
Suite 1680
1201 Third Avenue
Seattle, WA  98101
Ph. 206-757-8892/Mobile. 206-915-0109
Fax 206-757-7890
katherinelaird at centurypacificlp.com<mailto:katherinelaird at centurypacificlp.com>

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