Hi Curious, Just to add, I would definetly consult an insurance professional even if the HOA has a hazard policy. After there is an incident is the wrong time to find out that you could have purchased a coverage that would have assisted you. Remember the HOA is essentially you plus the other homeowners. So, if there is damage that exceeds your HOA reserves, the HOA comes back to the owner in assessments for the shortfall. There are some coverages for condo owners, like as it related to earthquake, that basically pay your portion of the HOA deductibles or may cover you for a variety of "unexpecteds". If you would like a reliable contact, I can refer you to both an AAA or State Farm agent, real person, that you can discuss your concerns and options with. Good luck!