What Does Agreed Amount Clause Mean?

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What does Agreed Amount Clause mean? Read on to discover the definition & meaning of the term Agreed Amount Clause - to help you better understand the language used in insurance policies.

Agreed Amount Clause

Agreed Amount Clause

Agreed amount clause is a provision in a commercial property insurance policy that legally relinquishes the co-insurance responsibility once the policyholder provides and signs a statement of values of the covered property. This provision is binding until the policy expires.

We hope the you have a better understanding of the meaning of Agreed Amount Clause.

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