Common use of Our Option Clause in Contracts

Our Option. If w e give you ▇ ▇ ▇▇▇▇▇ notice w ithin 30 days af ter w e receive your notice of loss, w e may repair or replace any part of the damaged property w ith like property. Loss Pay ment. W e w ill adjust all losses w ith you. W e w ill pay you unless some other person is named in the policy or is legally entitled to receive payment. Loss w ill be payable 60 days af ter w e receive your proof of loss and: loss that the amount of insurance that applies under this policy bears to the total amount of insurance covering the loss. If , at the time of loss, there is other insurance in the name of a corporation or a. Reach an agreement w ith you; b. There is an entry of a f inal judgment; or c. There is a f iling of an appraisal ▇▇ ▇▇▇ w ith us. association of property ow ners covering the same property covered by this policy, this insurance w ill be excess over the