Wednesday, July 1, 2009

Re: Special Assessment in Insurance Policy

I checked my policy, and it has that clause as well, but it seems that it's under the Additional Living Expenses Clause, which I at least will run out of if we are out of our homes for a significant amount of time, so there won't be any left for a special assessment. I hope others have a separate clause.
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2 comments:

  1. RéalJuly 2, 2009 at 12:10 AM

    My policy has a special `Condo Protection` that includes Improvements and Betterments, my portion of the Condo Corporation Insurance Deductable and my portion of any special assessment due to a direct loss to common elements ... I`m not 100% sure what that last piece means ... I will have to look into it.

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  2. RéalJuly 2, 2009 at 12:23 AM

    Upon further analisys, I found that I also had a `Loss Assesment Extension`clause in my policy that falls under Personal Liability (which is this very big number that an assesment would never reach). I guess I`m ok with this one.

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