Agreed Amount Clause

A property insurance provision in which the insurer agrees to waive the co-insurance requirement. To obtain an agreed amount clause, insurers require a statement of property values signed by the insured as a condition of activating or including an agreed value provision in a commercial property policy, otherwise known as an agreed amount clause.

The coinsurance clause requires the insured to have a certain percent of the property value insured, and often provides the insured a substantial reduction in rate, provided he or she maintains insurance equal to the amount agreed upon at the inception of the policy.


Investment dictionary. . 2012.

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