Co-Insurance. The Insured shall maintain insurance concurrent with this form on the insured property to the extent of at least the amount produced by multiplying the value of the property as determined in Clause 10 by the co-insurance percentage specified on the “Declarations Page”. If the Insured fails to do so, the Insured shall be entitled to recover only that portion of any loss that the amount of insurance in force at the time of loss bears to the amount of insurance required to be maintained by this clause. This provision applies separately to each item insured. This provision applies only where the total loss exceeds the lesser of 5% of the applicable amount of insurance or $10,000.
Appears in 4 contracts
Samples: Indemnity Agreement, Indemnity Agreement, Indemnity Agreement
