Co-Insurance. This clause applies separately to each item for which a co-insurance percentage is specified on the “Declarations Page” and only where the total loss exceeds the lesser of 5% of the applicable amount of insurance or $10,000. The Insured shall maintain insurance concurrent with this Form on the property insured to the extent of at least the amount produced by multiplying the actual cash value of the property by the co-insurance percentage specified on the “Declaration Page”, and failing so to do, shall only be entitled to recover 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.
Appears in 3 contracts
Samples: Indemnity Agreement, Indemnity Agreement, Commercial Property Insurance Agreement
Co-Insurance. This clause applies separately to each item for which a co-insurance percentage is specified on the “"Declarations Page” " and only where the total loss exceeds the lesser of 52% of the applicable amount of insurance or $10,0005,000. The Insured shall maintain insurance concurrent with this Form on the property insured to the extent of at least the amount produced by multiplying the actual cash value of the property by the co-insurance percentage specified on the “Declaration "Declarations Page”, " of the actual cash value thereof and failing so to do, do shall only be entitled to recover 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.
Appears in 2 contracts
Samples: Indemnity Agreement, Indemnity Agreement
Co-Insurance. This clause applies separately to each item for which a co-insurance percentage is specified on the “Declarations Declaration Page” and only where the total loss exceeds the lesser of 5% of the applicable amount of insurance or $10,000. The Insured shall maintain insurance concurrent with this Form on the property insured to the extent of at least the amount produced by multiplying the actual cash value of the property by the co-co- insurance percentage specified on the “Declaration Page”, and failing so to do, shall only be entitled to recover 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.
Appears in 2 contracts
Samples: Commercial Property Insurance Agreement, Commercial Property Insurance Agreement
Co-Insurance. This clause applies separately to each item for which a co-insurance percentage is specified on the “Declarations Pagedeclarations” and only where the total loss exceeds the lesser of 5% two percent (2%) of the applicable amount of insurance or five thousand dollars ($10,0005,000.). The Insured insured shall maintain insurance concurrent with this Form form on the property insured to the extent of at least the amount produced by multiplying the actual cash value of the property by the co-insurance percentage specified on the “Declaration Pagedeclarations”, and failing so to dodo so, shall only be entitled to recover 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.
Appears in 1 contract
Samples: Indemnity Agreement
Co-Insurance. This clause applies separately to each item for which a co-insurance percentage is specified on the “Declarations Page” and only where the total loss exceeds the lesser of 5% of the applicable amount of insurance or $10,000. 10,000 The Insured shall maintain insurance concurrent with this Form on the property insured to the extent of at least the amount produced by multiplying the “actual cash value value” of the property by the co-insurance percentage specified on the “Declaration Page”, and failing so to do, shall only be entitled to recover 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.
Appears in 1 contract
Samples: Builders Risk Coverage Broad Form