Common use of Average Clause in Contracts

Average. In the event of a loss, if the property hereby insured shall be collectively of greater value than the sum insured thereon, then the Insured shall be considered as being his own Insurer for the difference, and shall bear a rateable proportion of the loss accordingly. Every item if more than one of the Policy shall be separately subject to this condition.

Average. In the event of a loss, if If the property hereby insured shall Insured shall, at the time of any loss, be collectively of greater value than the sum insured Insured thereon, then the Insured shall be considered as being his own Insurer for the difference, and shall bear a rateable proportion of the loss accordingly. Every item item, if more than one one, of the Policy Schedule shall be separately subject to this condition.

Average. In If the event Property Insured shall at the time of a any loss, if the property hereby insured shall destruction or damage be collectively of greater value than the sum insured thereon, Sum Insured thereon then the Insured shall be considered as being his own Insurer for the difference, difference and shall bear a rateable proportion of the loss accordingly. Every item Item if more than one of the Policy shall be separately subject to this conditionCondition.

Average. In If the event Property Insured shall at the time of a any loss, if the property hereby insured shall destruction or damage be collectively of greater value than the sum insured thereon, thereon then the Insured shall be considered as being his own Insurer insurer for the difference, difference and shall bear a rateable rate able proportion of the loss accordingly. Every item if more than one of the Policy shall be separately subject to this conditionCondition.