Common use of Co-Insurance Clause in Contracts

Co-Insurance. This clause applies separately to each item for which a co-insurance percentage is specified on the “Declarations Page” for this Form and only where the amount of loss or damage 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 in the "“Declarations 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.

Co-Insurance. This clause applies separately to each item for which a co-insurance percentage is specified on the “"Declarations Page” for this Form " and only where the amount of loss or damage exceeds the lesser of 5% of the applicable amount of insurance or $10,00015,000. The Insured shall maintain insurance concurrent with this Form form on the insured property insured to the extent of at least the amount produced by multiplying the actual cash value of the property as determined in Clause 15 by the co-insurance percentage specified in on the "“Declarations Page”". If the Insured fails to do so, and failing so to do, the Insured shall only 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.