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
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Endorsement to an automobile insurance policy that protects an insured in either or both of two circumstances when driving a non owned car: business endorsement if the insured's negligent ...
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Same as term Agreed Amount Clause: in property insurance, a stipulated agreement between the insurance company and the insured that the amount of insurance coverage under the policy is ...
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