How can an owner be sure HOA insurance is appropriate?

Our by-laws require the board to get quotes for the HOA Iinsurance coverage, but I believe that is not being done according to the by-laws.

I understand that there is no competition to Travelers so we do not or cannot get quotes, and therefore have had Travelers for many years.

Also, there is confusion among the board, management and homeowners as to what coverage the HOA policy covers in event of destruction or damage to an individual home.

Is there any competition? How can we as homeowners get a reliable definition of the HOA coverage to make sure we are adequately covered but not paying for more coverage that is necessary?