Why loss assessment matters
Loss Assessment can change how a quote, declaration page, or claim payment should be read. In practical terms, it is about condo coverage for certain association assessments.
What to compare
- Does the association policy or the unit policy respond first?
- Is the deductible paid by the association or assessed to owners?
- Do bylaws define walls-in responsibility?
- Is the lender asking for a specific HO-6 limit?