Loss Assessment – Coverage D This valuable condo insurance coverage is uniquely designed for owners in condominiums/ associations. It recognizes the potential for owners to be assessed for certain kinds of loss. Here are examples of circumstances that might require the condominium association to assess all unit owners:
Someone is seriously injured on common property (perhaps at a swimming pool) and the courts award a judgment that’s higher than the amount of liability coverage provided by the condominium/association policy.
Major damage occurs to commonly owned buildings and it is not fully covered by insurance.