Common use of Protection and Preservation of Property Clause in Contracts

Protection and Preservation of Property. In case of actual or imminent physical loss or damage of the type insured against by this “Memorandum”, the expenses incurred by the “Member” in taking reasonable and necessary actions for the temporary protection and preservation of property insured hereunder shall be added to the total physical loss or damage otherwise recoverable under the “Memorandum” and be subject to the applicable deductible and without increase in the limit provisions contained in this “Memorandum”.