Common use of Loss Assessment Clause in Contracts

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 as- sessment must be made as a result of di- rect loss to property, owned by all members collectively, of the type that would be cov- ered by this policy if owned by you, caused by a Peril Insured Against under Coverage A, other than: (1) Earthquake; or (2) Land shock waves or tremors before, during or after a volcanic eruption. b. We do not cover assessments charged against you or a corporation or association of property owners by any governmental body. c. Paragraph P. Policy Period under Section I – Conditions does not apply to this cover- age. This coverage is additional insurance.

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 as- sessment must be made as a result of di- rect loss to property, owned by all members collectively, of the type that would be cov- ered by this policy if owned by you, caused by a Peril Insured Against under Coverage AC, other than: (1) Earthquake; or (2) Land shock waves or tremors before, during or after a volcanic eruption. b. We do not cover assessments charged against you or a corporation or association of property owners by any governmental body. c. Paragraph P. O. Policy Period under Section I – Conditions does not apply to this cover- age. This coverage is additional insurance.

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 as- sessment must be made as a result of di- rect loss to property, owned by all members mem- bers collectively, of the type that would be cov- ered covered by this policy if owned by you, caused by a Peril Insured Against under Coverage A, other than: (1) Earthquake; or (2) Land shock waves or tremors before, during or after a volcanic eruption. b. We do not cover assessments charged against you or a corporation or association of property owners by any governmental body. c. Paragraph P. Policy Period under Section I – Conditions does not apply to this cover- age. This coverage is additional insurance.

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 as- sessment must be made as a result of di- rect loss to property, owned by all members mem- bers collectively, of the type that would be cov- ered covered by this policy if owned by you, caused by a Peril Insured Against under Coverage AC, other than: (1) Earthquake; or (2) Land shock waves or tremors before, during or after a volcanic eruption. b. We do not cover assessments charged against you or a corporation or association of property owners by any governmental body. c. Paragraph P. O. Policy Period under Section I – Conditions does not apply to this cover- age. This coverage is additional insurance.