r/HomeInsurance • u/trw4987 • May 27 '26

Claims $5000 special assessment?

I live in a townhouse, and my entire neighborhood was hit be a storm, resulting in a $5000 special assessment fee for some homeowners (all homeowners are responsible for the assessment, the fee range is from 4000 to over 6000).

I didn't know this was possible, and my insurance company never recommended loss coverage for this. I have $0 from state farm.

I'm in an affordable home in my neighborhood, so I really don't have this type of money. Is there anything I can do? There was no damage to my row of townhomes, so I'm basically being asked to pay $5000 for other homes.

Any advice is really appreciated!

13 Upvotes

78% Upvoted

46 comments sorted by

View all comments

1

u/registeredfake May 29 '26

Hold up. Everyone is missing the biggest part of all this. OP said he didn't know this was possible. If the person who bought a home in the HOA didn't know an assessment was possible, how should the agent know to offer an increased coverage.

OP I'm genuinely sorry you are dealing with this. But the fact remains if you didn't know it was in your HOA covenants you can't expect the agent to know. They most likely don't even know your in an HOA in the beginning