Loss Assessment. We will pay up to $1000 for your share of loss assessment charged during the policy period against you by a corporation or as- sociation of property owners, when the assess- ment is made as a result of:
Loss Assessment. We will pay up to $1000 for your share of loss assessment charged during the policy period against you by a corporation or asso- ciation of property owners, when the assessment is made as a result of direct loss to the property, owned by all members collectively, caused by a Peril Insured Against under COVERAGE A – DWELLING, other than earthquake or land shock waves or tremors before, during or after a volcanic eruption. This coverage applies only to loss assessments charged against you as owner or tenant of the "residence premises." We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. The limit of $1000 is the most we will pay with re- spect to any one loss, regardless of the number of assessments.
Loss Assessment. We pay: 1. We will pay up to $1,000 for your share of
Loss Assessment a. We will pay up to $1,000 for your share of loss assessment charged during the policy period against you, as owner or tenant of the "residence premises", by a corporation or association of property owners. The assessment must be made as a result of direct loss to property, owned by all members collectively, of the type that would be covered by this policy if owned by you, caused by a Peril Insured Against under Coverage A. The limit of $1,000 is the most we will pay with respect to any one loss, regardless of the number of assessments. We will only apply one deductible, per unit, to the total amount of any one loss to the property de- scribed above, regardless of the number of assessments.
Loss Assessment. We will pay the actual, reasonable and necessary cost, up to $2,500, for your share of any loss assessment charged against all members of an association of property owners if the assessment is made as a result of direct loss to the property collectively owned by all members, caused by an Insured Peril. We do not insure assessments for direct loss caused by earth move- ment. This coverage applies only to assess- ments made against you as the owner or tenant of your premises for losses that occur during the Policy Period. We will pay no more than $2,500 with respect to any one loss, regardless of the number of assessments. No deductible will apply.
Loss Assessment. We will pay up to $1,000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result of a direct loss to the property, owned by all members collectively, of the type that would be covered by this policy if owned by you caused by a Peril Insured Against under COVERAGE A – Dwelling, other than earthquake or land shock waves or tremors before, during or after a volcanic eruption. This coverage applies only to loss assessments charged against you as owner or tenant of the “residence premises.” We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. The limit of $1,000 is the most we will pay with respect to any one loss, regardless of the number of assessments. No deductible applies to this coverage. Condition 1. Policy Period, under SECTIONS I AND II CONDITIONS, does not apply to this coverage.
Loss Assessment. We will pay up to $1,000 for your share of loss assessment charged during the policy period against you by a corporation or association of property owners, when the assessment is made as a result of a direct loss to the property, owned by all members collectively, of the type that would be covered by this policy if owned by you, caused by a Peril Insured Against under COVERAGE A – DWELLING, other than earthquake or land shock waves or tremors before, during or after a volcan- ic eruption. This coverage applies only to loss assessments charged against you as owner or tenant of the “residence premises.” We do not cover loss assessments charged against you or a corporation or association of property owners by any governmental body. The limit of $1,000 is the most we will pay with re- spect to any one loss, regardless of the number of assessments. No deductible applies to this coverage. Condition 1. Policy Period, under SECTIONS I AND II CONDITIONS, does not apply to this coverage.
Loss Assessment. Sample Copy
Loss Assessment. We cover your share of an assessment charged against all homeowners in your homeowners association. But the assessment must be a result of a loss that would be covered under this policy to property owned collectively by all homeowners. or of liability that would be covered under this policy. We will not pay homeowners assessments caused by earthquake even if earthquake coverage is included in this policy for the location. But we do insure ensuing covered loss due to fire, explosion, theft or glass breakage unless an exclusion applies. We will pay up to $50,000 for anyone loss, regardless of the number of assessments. But we will not pay more than $1,000 in any one loss for assessments that result from a deductible in your homeowners association's insurance. This coverage is additional insurance. No deductible applies to this coverage.
Loss Assessment. Subject to the Loss Assessment “limit of insurance” shown in the Declarations, “we” will pay “your” share of any loss assessment charged against “you” by a corporation or association of property owners because of a “covered event” during the policy period. This coverage only applies when the assessment is made as a result of direct physical loss to “covered property” owned by all members collectively, caused by a “covered event”. This coverage applies only to loss assessments charged against “you” as owner of the “residence premises”. “
