It is my understanding that Travelers insurance offers this type of coverage. The coverage is for loses like Acts of Gods. For example a tornado ripes the roof off of your condo building and there is a special assessment. Updating special assessments for convector replacements (Marina Towers) and updating windows are excluded. In 2010 one could add $50,000 in coverage for about $17.00 extra a year. So check with a Travelers insurance agent for details. I know about this because my wife & I market lots of condos, and advise our clients to obtain this type of coverage. Also is why you need to read the condo resale package to ascertain whether or not the association is expecting to levy special assessments.
Please let me know if you need assistance buyting or selling your condo.
Sincerely yours - Bob Lepelletier - REALTOR, GRI, ABR, SFR, Associate Broker at Keller Williams Realty - Alexandria/Kingstowne Office, 6354 Walker Lane Suite 100, Alexandria, VA 22310 Direct (703) 310-7880 - Cell (703) 474-5914 email: email@example.com... more