Loss Assessment Coverage - Sample Endorsement

Association Loss Assessment Coverage. We pay your share of any assessment levied against unit owners during the policy period by the Association up to $1,500 per occurrence as a result of:

A. Direct loss of the common property caused by a peril covered under Section I - Coverage A of this policy.

B. An occurrence to which Section II of this policy would apply.

C. Loss by personal injury for which the corporation or Association becomes liable. Personal injury means any injury arising from:

  • False arrest, imprisonment, malicious prosecution and detention.
  • Wrongful eviction, entry, invasion of rights of privacy.
  • Libel, slander, defamation of character.
  • Discrimination because of race, color, religion or national origin. Liability prohibited by law is excluded. Fines and penalties imposed by law are covered.

Most policies come with only $1,500 of Loss Assessment Coverage, but owners can increase the coverage to $50,000 or more.

 

Union America
Insurance Agency

A California Corporation

5776 Lindero Canyon Road, Suite D-482
Westlake Village, CA 91362
Direct: 818-292-2118  Office: 818-991-0091
License # 0K01653