Common use of Loss Payable Clause Clause in Contracts

Loss Payable Clause. With respect to those items of personal property for which a loss payee is shown on the “declarations”, the definition of “insured” is extended to include that loss payee, but only with respect to those items of personal property. If “we” cancel or do not renew this policy, “we” will so notify, in writing, any loss payees shown on the “declarations”.