Insurance Under More Than One Coverage Clause Samples
The "Insurance Under More Than One Coverage" clause defines how claims are handled when the same loss or damage is covered by multiple insurance policies or coverages within a single policy. Typically, this clause outlines the method for determining which coverage is primary and how payments are coordinated, such as by specifying proportional sharing or limiting recovery to prevent double compensation. Its core function is to prevent insured parties from collecting more than the actual loss amount and to clarify the responsibilities of each insurer, thereby avoiding disputes and ensuring fair allocation of payments.
Insurance Under More Than One Coverage. If more than one coverage of this policy insures the same loss, we pay no more than the actual claim, loss or damage sustained.
Insurance Under More Than One Coverage. If more than one coverage of this policy applies to a loss, “we” pay no more than the actual loss, subject to policy “terms”.
Insurance Under More Than One Coverage. If more than one coverage of this policy covers the same loss,
Insurance Under More Than One Coverage. We" will not make duplicate payments to or for any person for the same elements of loss under Part B and:
a. Part A or Part C of this policy; or
b. any underinsured motorist coverage provided by this policy.
Insurance Under More Than One Coverage. We" will not make duplicate payments to or for any person for the same elements of loss under Trip Interruption Coverage and Part D of this policy.
Insurance Under More Than One Coverage. If more than one coverage applies to a loss, we pay no more than the actual loss. Coverage L — Insurance Under More Than One Policy — Coverage L is excess over other valid and collectible insurance that applies to the loss or claim. However, this does not apply to insurance written specifically to provide coverage in excess of the limits that apply in this policy. If the other valid and collectible insurance is also excess, we pay only our share of the loss. We pay only that part of the loss that the applicable limit under this policy bears to the total amount of insurance covering the loss.
Insurance Under More Than One Coverage. If more than one coverage of this policy insures the same loss, "we" pay no more than the actual claim, loss, or damage sustained.
1. Our Options -- "We" have the following options:
a. pay the value of the loss;
b. pay the cost of repairing or replacing the loss;
c. rebuild, repair, or replace with property of like kind and quality, to the extent practicable, within a reasonable time;
d. take all or any part of the damaged property at the agreed or appraised value.
Insurance Under More Than One Coverage. If more than one coverage of this policy insures the same loss, we pay no more than the actual claim or loss sustained. If coverage is provided for any item specifically insured under any Inland Marine coverage part of this policy, that is the only coverage of this policy that will apply to loss to the item.