Have you asked your insurance carrier why loss assessment coverage was denied? If so, what did they tell you?

Yes, Steven, I did. They said they don't cover pools and that water damage, a pipe bursting, man-caused or not, was not covered. The pool replacement is part of now a bigger issue, the bulkhead and patio, both condemned, which we must replace, even if we don't replace the pool. And the building is now suing the insurer, since we believe we should be covered. Wondering if the Board can rewrite the assessment stating it's just for the bulkhead and patio.

Those restrictions sound pretty... errrr... restrictive. Any way you can look up what your coverage included in your originally policy documents.

I live in a co-op so a comparison to a condo is not really valid. I never considered what my exclusions are, and I'm going now check. My policy comes up for renew next month and I checked how much loss assessment I had. $1,000. Again, coverage may be different between co-ops and condos.

You might want to go to another insurance broker and get a competitive quote. During your discussions, ask them what their loss assessment covers and what is excluded. At least you'll know if what you're running into is industry standard or just your coverage underwriter.

Good luck

I'm going to check with USAA for a comparison and definitely ask what is an isn't covered. You should upgrade from the standard $1000 coverage which normally comes with most policies, consider your deductible as well. My neighbor has $1000 coverage, but her deductible is $1000 so that is a wash. My $10,000 coverage only costs me $5/month, peace of mind, which I still think is worth it, should something else occur.

Would love to hear from those that have used their loss assessment coverage. I live in a coop.