Common use of Special Payment Clause in Contracts

Special Payment. At our option, we may make payment for a covered loss before you repair, rebuild or replace the damaged, destroyed or stolen property if: 1) the whole amount of loss for property covered under Coverage A Dwelling Protection and Coverage B Other Structures Protection, without deduction for depreciation, is less than $2,500 and if the property is not excluded from the Building Structure Reimbursement provision, or; 2) the whole amount of loss for property covered under Coverage C $2,500 and if your Policy Declarations shows that the Personal Property Reimbursement provision applies, and the property is not excluded from the Personal Property Reimbursement provision.

Appears in 7 contracts

Samples: Homeowners Insurance Policy, Homeowners Insurance Policy, Homeowners Insurance Policy

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