Coverage, deductible or limits Clause Samples
The "Coverage, deductible or limits" clause defines the extent of protection provided by an insurance policy, specifying what is covered, the amount the insured must pay out-of-pocket before insurance applies (deductible), and the maximum amount the insurer will pay for a claim or over the policy period (limits). For example, this clause may state that property damage is covered up to $100,000, with a $1,000 deductible per incident. Its core function is to clearly outline the financial responsibilities and protections for both the insurer and the insured, thereby preventing misunderstandings and disputes regarding the scope and limits of coverage.
Coverage, deductible or limits. If a change resulting from A. or B. requires a premium adjustment, we will make the premium adjustment in accordance with our manual rules.
Coverage, deductible or limits. If this policy form is revised to provide more coverage without additional premium charge, we will automatically provide the additional coverage as of the date the revision is effective.