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Danny has an unendorsed Homeowners 5 - Comprehensive Form Policy with a $500,000 Limit of Liability and a $2,500 Deductible. Danny heard that each of
Danny has an unendorsed Homeowners 5 - Comprehensive Form Policy with a $500,000 Limit of Liability and a $2,500 Deductible. Danny heard that each of the P.O.A. members is being assessed $1,000 for a share of a liability claim where a child was injured on deteriorating playground equipment that the P.O.A. was responsible for maintaining. Will Danny's Homeowners Policy help him with this assessment? a. No. Loss Assessment is not provided unless the Supplemental Loss Assessment Coverage endorsement is attached to the policy. O b. Yes. Loss Assessment is provided under Section II - Liability Coverages, with a limit of $2,000. His policy will pay only the $1,000 assessment. c. Yes. Loss Assessment is provided under Section II - Liability Coverages, but the policy will not pay because the assessment is less than his deductible. d. No. Loss Assessment is only provided under a Homeowners 6 - Unit-Owners Form
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