Limited Fungus And Related Perils Coverage Aggregate Limit Sample Clauses

The Limited Fungus And Related Perils Coverage Aggregate Limit clause sets a maximum total amount that an insurer will pay for all claims arising from fungus, mold, or similar perils during a policy period. This limit applies regardless of the number of incidents or claims, meaning that once the aggregate cap is reached, no further payments will be made for these specific perils until the policy renews. By establishing a clear ceiling on coverage for potentially costly and recurring issues like mold, this clause helps insurers manage their risk exposure and provides policyholders with upfront clarity about the extent of their protection.
Limited Fungus And Related Perils Coverage Aggregate Limit. The Limited Fungus and Related Perils Coverage Aggregate Limit is $15,000. The Limited Fungus and Related Perils Coverage Aggregate Limit is the most that "we" pay for each consecutive annual period and for any remaining period of less than 12 months, beginning with the inception date of this policy as shown on the "declarations". If however, the policy period is extended for an additional period of less than 12 months, this additional period will be considered part of the preceding annual period for the purpose of determining the "limit". The Limited Fungus and Related Perils Coverage Aggregate Limit is the most that "we" pay even if "fungus or related perils" that are the direct result of a specific occurrence recur or continue to exist during this or any future policy period. The Limited Fungus and Related Perils Coverage Aggregate Limit applies regardless of the number of claims made and regardless of the number of premises or buildings insured under this policy. This coverage does not increase the "limit" shown for any property, expense, or assessment covered.
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