To what extent does "Coverage A2 - Loss Assessment" in a Condominium Unit Owners Comprehensive policy cover an assessment against a unit owner? Any covered assessment made by the Condominium Corporation, as additional insurance up to the limit specified on Unit Improvements and Betterments. Any assessment made by the Condominium Corporation as a contribution to cover the deductible in the Condominium Corporation's insurance. Any covered assessment made by the dominium Corporation up to $10,000 or the limit specified in the Unit Owners policy declarations. Any assessment not exceeding $25,000, made in respect of any losses sustained by the Condominium Corporation.

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Property Insurance

Property insurance protects property from unforeseeable loss or damage and covers property owners' liability. Property insurance provides financial compensation to the property owner or renter in the event of damage or theft, as well as to someone other than the owner or renter if that person is injured on the property. Property insurance covers all risks of damage caused by theft, fire, flood, cyclones, lighting, and natural calamities, among other things. The primary goal of property insurance is to require the property owner to cover the loss. A monthly premium is paid to the insurance company, and in exchange, the insurance company pays for damage based on the agreement stated in the policy. Property insurance protects assets such as a vehicle, auto, car, rental home, house, and valuable property.