Colorado Homeowners Struggle with Soaring HOA Insurance Costs, Forced to Consider Relocation
Homeowners in Castle Rock's Latigo neighborhood are left with more questions than answers as they face skyrocketing HOA insurance costs. A recent budget proposal to increase monthly HOA dues from $300 to $820 was vetoed by residents due to a 600% increase in the community's insurance premium attributed to recent wildfires. The latest proposal includes a $2,500 special assessment to be paid in addition to continued $300 monthly payments. The outcome of the vote is still uncertain, and homeowners are concerned about potential defaults on the new insurance policy and whether they have been double paying for coverage. Similar insurance cost increases are being reported in other Colorado communities.