Covered Loss Clause Samples

Covered Loss. Covered Loss means the categories of perils, namely “Personal Injury” and/or “Property Loss” and/or “Financial Loss” and/or “Mental Anguish” and/or “Service Deficiency” and/or “Income Loss”, as specified to be in force in the Policy Schedule, which result from an Occurrence under Your Contract.

Covered Loss. The amount You are contractually obligated to pay in accordance with the Move-Out Statement of this Lease agreement, up to, but not exceeding the amount of this Waiver, as indicated on this acknowledgement, with a maximum sublimit of $500 for Property Damage to the Residential Unit. Covered Loss will be in excess of any security deposit or collectible insurance coverage. Move-out Statement – Documentation, not limited to but including all rental ledgers, receipts, invoices, communication, legal correspondence, court orders, military notices, and/or a death certificate available to confirm the reason the tenant no longer occupies the premises. Residential Unit - means the property leased or rented to You by Us as indicated in the Lease. The property may be a house, apartment, condominium, or other unit or some portion thereof. Security Deposit Alternative Waiver Powered by National Real Estate Insurance Group Tenant (You, Your) - means the individual or individuals named in the Lease.

Covered Loss. “Covered Loss” shall mean, with respect to any Member, any loss (including, but not limited to, judgments, settlements, loss payments, defense costs and other charges directly attributable to resolution of a claim) resulting from a claim or demand that is covered by HARRP under the Coverage Terms of the Member and that is in excess of the Member’s deductible.

Covered Loss. (i) If any Member’s Proportionate Property Coverage accepts coverage for and/or pays on any claim for loss or damage to the Company’s property arising out of an occurrence or event affecting such property (the occurrence or event giving rise to such loss or damage being referred to as the “Property Occurrence”), then for purposes of this Agreement and the claims made by the other Members on their respective Proportionate Property Coverage for loss or damage to the Company’s property arising out of the same Property Occurrence, such claim for such loss or damage that is accepted and/or paid shall be deemed to be a “Covered Property Loss”; provided however, that for any Covered Property Loss for which more than one Member’s Proportionate Property Coverage accepts coverage for and/or pays on any claim for a Property Occurrence, then the single highest dollar amount of coverage of all the Members’ Proportionate Property Coverage that accepts coverage for and/or pays on any claim shall be deemed to be the Covered Property Loss for such Property Occurrence. (ii) If any Member’s Second Tier Excess Liability Coverage accepts coverage for and/or pays any claim or liability under any Proportionate Excess Liability Coverage arising out of an occurrence or event affecting the Company (the occurrence or event giving rise to such claim or liability being referred to as the “Liability Occurrence”), then for purposes of this Agreement and the claims made by the other Members on their respective Proportionate Excess Liability Coverage for liability to the Company arising out of the same Liability Occurrence, such claim for such claim or liability that is accepted and/or paid shall be deemed to be a “Covered Liability Claim”; provided however, that for any Covered Liability Claim for which more than one Member’s Proportionate Excess Liability Coverage accepts coverage for and/or pays on any claim for a Liability Occurrence, then the single highest amount of coverage of all the Members’ Proportionate Excess Liability Coverage that accepts coverage for and/or pays on any claim shall be deemed to be the Covered Liability Claim for such Liability Occurrence.

Covered Loss. Our liability is limited to the specific Covered Loss/categories of perils outlined in the Policy Schedule, Sub-Limits, and any General Exclusions specified under the Policy that may be applicable to a claim made against You.

Covered Loss. A covered loss under this Part VI is a loss caused by one or more of the following perils: 1. fire or lightning; 2. explosion, smoke, or charring; 3. windstorm, hail, earthquake, earth movement, volcanic explosion, lava flow, land- slide, flood, rain, snow, sand, sleet, or dust. However, this does not include loss to items in the covered vehicle or secured storage location caused by rain, snow, sand, sleet, or dust unless the covered vehicle or secured storage location is first damaged by a direct, accidental force, creating an opening through which the rain, snow, sand, sleet, or dust enters; 4. riot or civil commotion; 5. vandalism, but not when caused by, or at the direction of, you or a relative;