Stated Amount Endorsement
Definition of "Stated amount endorsement"
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).
Popular Insurance Terms
State-sponsored insurance fund that was intended to guarantee deposits at state-chartered savings institutions. A handful of these funds existed in the early 1980s, but after a string of ...
Coverage in which the face amount of a policy remains uniform, neither increasing nor decreasing for as long as the policy is in force. ...
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Policy under which the insurer will pay the actual cash value of the property at the time the property was damaged or destroyed provided the loss falls within the limitations of the policy. ...
Death from other than accidental means. ...
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