Common use of How We Settle Covered Loss Clause in Contracts

How We Settle Covered Loss. Unless Contents Replacement Cost Coverage applies as shown in the Declarations, covered loss or damage to personal property will be settled for no more than the lesser of the following: a. actual cash value; b. fair market value; c. any limit of insurance in this policy that applies to the property; or d. the reasonable and necessary amount actually spent to replace lost property or to repair or replace damage to the damaged part of the property. The Section I – Personal Property limit of insurance is the most we will pay regardless of the number of items of personal property which are involved in a loss event.

How We Settle Covered Loss. Unless Contents Replacement Cost Coverage applies as shown in the Declarations, covered loss or damage to personal property will be settled for no more than the lesser of the following: a. actual cash value; b. fair market value;; SAMPLE POLICY c. any limit of insurance in this policy that applies to the property; or d. the reasonable and necessary amount actually spent to replace lost property or to repair or replace damage to the damaged part of the property. The Section I – Personal Property limit of insurance is the most we will pay regardless of the number of items of personal property which are involved in a loss event.

How We Settle Covered Loss. Unless Contents Replacement Cost Coverage applies as shown in the Declarations, covered loss or damage to personal property will be settled for no more than the lesser of the following: a. actual cash value; b. fair market value; c. any limit of insurance in this policy that applies to the property; or d. the reasonable and necessary amount actually spent to replace lost property or to repair or replace damage to the damaged part of the property. SAMPLE POLICY The Section I – Personal Property limit of insurance is the most we will pay regardless of the number of items of personal property which are involved in a loss event.

How We Settle Covered Loss. Unless Contents Replacement Cost Coverage applies as shown in the Declarations, covered loss or damage to personal property will be settled for no more than the lesser of the following: a. actual cash value; b. fair market value; c. any limit of insurance in this policy that applies to the property; oror SAMPLE POLICY d. the reasonable and necessary amount actually spent to replace lost property or to repair or replace damage to the damaged part of the property. The Section I – Personal Property limit of insurance is the most we will pay regardless of the number of items of personal property which are involved in a loss event.

How We Settle Covered Loss. Unless Contents Replacement Cost Coverage applies as shown in the Declarations, covered loss or damage to personal property will be settled for no more than the lesser of the following: a. actual cash value; b. fair market value; c. any limit of insurance in this policy that applies to the property; or d. the reasonable and necessary amount actually spent to replace lost property or to repair or replace damage to the damaged part of the property. A Farmers® Company The Section I – Personal Property limit of insurance is the most we will pay regardless of the number of items of personal property which are involved in a loss event.