Common use of Main insurance Clause in Contracts

Main insurance. All risks. You must keep every building and every other improvement on the property, including property in which you have a leasehold interest, insured against loss or damage by the risks usually covered by an "all risks" policy with standard extended coverage, including fire, lightning and tempest. Your policy must at least be for the cost of replacing all of the building or improvement with a similar one. It must also be for enough to prevent the insurer from reducing the proceeds under a "co-insurance" clause. The policy must contain a standard mortgage clause saying that the proceeds of any loss are payable to us.

Main insurance. All risks. You must keep every building and every other improvement on the property, including property in which you have a leasehold interest, insured against loss or damage by the risks usually covered by an "all risks" policy with standard extended coverage, including fire, lightning and tempest. Your policy must at least be for the cost of replacing all of the building or improvement with a similar one. It must also be for enough to prevent the insurer from reducing the proceeds under a "co-co- insurance" clause. The policy must contain a standard mortgage or hypothec clause saying that the proceeds of any loss are payable to us.

Main insurance.  All risks. You must keep every building and every other improvement on the property, including property in which you have a leasehold interest, insured against loss or damage by the risks usually covered by an "all risks" policy with standard extended coverage, including fire, lightning and tempest. Your policy must at least be for the cost of replacing all of the building or improvement with a similar one. It must also be for enough to prevent the insurer from reducing the proceeds under a "co-co- insurance" clause. The policy must contain a standard mortgage clause saying that the proceeds of any loss are payable to us.  Usual insurance. You must also carry the insurance for all of the property that a careful owner would usually carry when insuring a similar property and using it in a similar way and place.