Common use of Constructive Total Loss Clause in Contracts

Constructive Total Loss. No claim for constructive total loss shall be recoverable unless The Property Insured is reasonably abandoned either on account of its actual loss appearing to be unavoidable or because the cost of recovering, reconditioning and forwarding The Property Insured to the destination named in the policy would exceed its value on arrival.

Appears in 1 contract

Sources: Insurance Agreement

Constructive Total Loss. No claim for constructive total loss shall be recoverable unless The the Insured Property Insured is reasonably abandoned either on account of its their actual total loss appearing to be unavoidable or because the cost of recovering, reconditioning and forwarding The Property Insured them to the intended destination named in the policy would exceed its their value on arrival.

Appears in 1 contract

Sources: Marine Household Goods & Personal Effects Transit Insurance Policy