Common use of Average Clause in Contracts

Average. If the Glass hereby insured shall at the time of any loss or damage is collectively of greater value (Reinstatement Value) than the Sum Insured thereon, then the Insured shall be considered as being his own insurer for the difference, and shall bear a rateable proportion of the loss or damage accordingly. Every item, if more than one, in the policy, shall be separately subject to this condition.

Average. If the Glass hereby insured shall at the time of any loss or damage is be collectively of greater value (Reinstatement Value) than the Sum Insured thereon, then the Insured shall be considered as being his own insurer for the difference, and shall bear a rateable proportion of the loss or damage accordingly. Every item, if more than one, in the policy, shall be separately subject to this condition.