Expose Loss Assessment
Loss Assessment Technical Terms
Loss Assessment : A coverage included in personal lines policies, which helps to pay for any special assessments levied against the unit owners of the Association. While the coverage details vary, typically the loss must be insurance related, on a peril that would be covered by the policy, and requires assessment against all residents, not just one. The coverage is triggered at the time of the assessment, rather than of the incident that led to the assessment.