When I was in high school, I was on my way out of the house when I heard my parents and some friends talking about insurance over cocktails. I thought, "If I end up talking about insurance over cocktails when I grow up, I really hope somebody takes me out back and shoots me."
Since I don't currently have a cocktail, let me tell you something about insurance. If you have a homeowners association (HOA) where you live, ask your insurance pusher about special assessment insurance. When HOAs have large upcoming expenditures (new roof, boiler, road paving in a subdivision) and not enough money to cover it, they can charge a special assessment to all homeowners. Sometimes this amount can be in the thousands, and don't think you can blow it off. HOAs have the power to file liens and even foreclose on your property for unpaid dues and assessments.
However, many insurance companies are now offering a special assessment rider to their homeowners and condo insurance. It's reasonably priced and certainly worth researching. In theory, if your HOA charges a special assessment, your insurance would cover it, subject to a deductible.
Having said that, let's get one thing straight: I'm not in the insurance business, nor is Live Urban Real Estate. Ask your favorite insurance person about it and please, please, please read the fine print. There could be some special assessments that aren't covered. Insurance companies have a way of protecting themselves, so be careful, but it's worth checking out.
When you're done, get together with some friends, enjoy a cool beverage and talk about something much more interesting. Here's a starter for you: Goats are excellent swimmers. You're welcome.
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