When you are talking about insurance, a cap refers to the annual limit that your insurance company will pay you based on your specific insurance coverage or the insurance plan that you are on. HOA insurance or homeowners association insurance can encompass a few different things. That means to determine the cap for your HOA insurance claim, you will have to consult your specific insurance policy, the requirements for your state, and an insurance expert. If you have any questions about your HOA insurance or insurance claim caps, you can reach out to Moran Financial Solutions. We have a team of experts that are happy to help you with any insurance questions or concerns you may have related to your Florida HOA. Read More Here: http://www.irs.gov/pub/irs-drop/n-13-54.pdf