What does Stated Amount Endorsement mean? Read on to discover the definition & meaning of the term Stated Amount Endorsement - to help you better understand the language used in insurance policies.
Stated Amount Endorsement
Stated amount endorsement is an endorsement to a policy by the insurance company waiving the coinsurance clause on the specified property. This is also known as agreed amount endorsement and no coinsurance penalty will be made for as long as this endorsement is in effect. This is provided when there is difficulty in determining the value of the insured vehicle.
We hope the you have a better understanding of the meaning of Stated Amount Endorsement.