Agreed amount clause

Agreed amount clause,

Definition of Agreed amount clause:

  1. This arrangement is typically available for commercial and other properties.

  2. A clause that stipulates that the amount of insurance will automatically meet the coinsurance clause.

  3. The agreed amount clause is a property insurance provision through which the insurer agrees to waive the coinsurance requirement. Insurers will require a statement of property values–signed by the policyholder–as a condition for activating or including an agreed value provision in a policy.

How to use Agreed amount clause in a sentence?

  1. Calculation of actual cash value is calculated by subtracting depreciation costs from replacement costs, with depreciation determined by establishing an expected lifetime and determining the remaining percentage of life.
  2. The value listed on the statement will become the basis from which policy coverage is determined.
  3. The agreed amount clause is a property insurance provision through which the insurer agrees to waive the coinsurance requirement.
  4. The agreed amount clause requires a signed statement of values or actual cash value; this statement details the value of the insured property.

Meaning of Agreed amount clause & Agreed amount clause Definition

Agreed Amount Clause,

How Do You Define Agreed Amount Clause?

You can define Agreed Amount Clause as, Synonyms see key terms agreed upon in the Capital Protection Agreement or Option.

Old name of approved value option. (For a unanimous definition of the price option, see below).

Meaning of Agreed Amount Clause: A provision in fire insurance where the policyholder agrees to purchase the sum insured (usually 80-90% or more) fixed by the company and in return the company ignores the requirements of the Six Insurance clause. Is. (See joint insurance)

Literal Meanings of Agreed Amount Clause

Agreed:

Meanings of Agreed:
  1. Discussed or negotiated, and then accepted by all parties.

Sentences of Agreed
  1. Agreed time

Synonyms of Agreed

prescribed, determined, chosen, worked out, ordained, designated, clinched, agreed, established, allotted, resolved, decreed, concluded, settled

Amount:

Meanings of Amount:
  1. A set of items, especially a combination of one or more items in number, size, price or scope.

  2. When adding (amount)

Sentences of Amount
  1. A lot of people like sports

  2. Total loss of over 10 million

Synonyms of Amount

quantity, represent, make, load, add up to, come to, group, weight, aggregate, total, volume, bulk, be equal to, count as, be, equal, be equivalent to, consignment, size, sum, mass, run to, number, quota

Clause:

Meanings of Clause:
  1. The grammatical organizational unit, which is located directly below the sentence in the line, must include an essay and a preposition in traditional grammar.

  2. Articles, terms or conditions are specific and separate from an agreement, bill or agreement.

Sentences of Clause
  1. Of the above sentences, both sentences are connected to a chain of sentences without any structure.

  2. Agreements usually contain a provision of an electoral law that determines the applicable law.

Synonyms of Clause

passage, construction, phrasal idiom, paragraph, article, part, item, subsection, idiomatic expression, clause, note, term, group of words, word group, turn of phrase, wording, section, point, locution, idiom, heading, set phrase, phrasal verb, expression