What Is Loss Assessment Home Insurance? 
Most homeowners insurance policies provide some coverage for loss assessments due to a covered loss . If your homeowners association community charges you an assessment for damage that would be covered by homeowners insurance then you can submit a claim for reimbursement . For example , a community here in Richmond , Virgina recently assessed all homeowners $ 3,000 for damage to the pool house due to a fallen tree . My client 's home policy provided loss assessment coverage up to $ 5,000 and since this type of loss is covered on his homeowners insurance he was fully reimbursed less his deductible . Loss assessment coverage does NOT reimburse homeowners for maintenance fees . If your association board votes to paint a build or do any kind of maintenance work this cost is not covered . 