Plain-English meaning
Condo or association coverage that may help with certain assessments charged to a unit owner after a covered event, subject to strict terms.
Why it matters
The master-policy deductible or association loss can exceed the unit owner's basic limit.
Where you may see it
HO-6 forms, association notices, bylaws, master policy, and special-assessment letters.
What to verify
Covered cause, assessment reason, limit, deductible, master-policy deductible treatment, and exclusions.
Do not confuse it with
Coverage for routine dues, maintenance, or any assessment regardless of cause.
For policy-specific meaning, read the definition and related provision in the issued policy.