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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.

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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.


agreed amount clause

Related Terms

A coinsurance provision is defined as a property insurance provision that penalizes the insured's...