Stated Amount Endorsement


Definition of "Stated amount endorsement"

Randy Plyler real estate agent
Randy Plyler, Real Estate Agent Century 21 Judge Fite Company

Addition to a property policy providing coverage for a specified amount. This endorsement is typically used for an unusual or valuable piece of property that does not fit standard descriptions and, instead of declining, retains its value. For example, a classic Austin Healey 3000 Mark IV might be covered by this type of endorsement to a personal automobile policy (PAP).

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