After our most recent hail event ACCU, Inc. moved quickly to get our communities qualified for damage and turned in claims for associations who’s damage exceeded the percentage deductible for the wind and hail on the master policy.  Owners started to turn in claims against their insurance providers for the loss assessment insurance coverage.  Some owners have been shocked when they find out that:

  1. Their insurance provider has an exclusion to cover deductibles!
  2. There is only a $1000 policy limit

So what does that mean?

Some but not all insurance companies do not want to share in the risk of paying for the high cost of wind and hail damange and therefore have written an exclusion into their loss assessment endorsement policies.  It is no longer good enough to call your agent and simply ask, “do I have a loss assessment endorsement on my policy?”  It is recommended that you ask questions of your agent such as:

Does my policy cover deductibles?


What is my policy limit?

Making sure that the insurance policy you have is adequate to cover you in the event of a loss could mean the difference in thousands of dollars you may otherwise be out of pocket.