Endorsements & Optional CoveragesPregunta 449 de 474
A condominium unit owner increases loss assessment coverage in order to pay:
a.Monthly dues owed while the unit is unusable
b.Damage to the unit's own walls and cabinets
c.A share of the association's covered loss
d.Property stolen from the basement storage cage
Explicación
Loss assessment responds when the association charges each unit owner a share of a loss to the common property or of a liability judgment against the association. The standard form includes only $1,000 of it as an additional coverage, which a large assessment quickly exhausts, so unit owners buy more by endorsement. Damage inside the unit and stolen property are Coverage A and Coverage C matters, not assessments.
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