A coinsurance provision is defined as a property insurance provision that penalizes the insured's...
agreed value coverage option or provision
An agreed value coverage option is a commercial property insurance provision that suspends the coinsurance clause until a specified expiration date.
Additional Information
Insurers usually require a statement of property values signed by the insured as a condition of activating or including an agreed value provision in a commercial property policy. It was previously referred to as an agreed amount clause.
Synonyms
agreed amount clause
Related Terms
