Common use of Loss Payable Clause Clause in Contracts

Loss Payable Clause. Payment under this Part IV for a loss to a covered auto will be made according to your interest and the interest of any lienholder shown on the declarations page or designated by you. At our option, payment may be made to both jointly, or to either separately. However, if the covered auto is not a total loss, we may make payment to you and the repairer of the auto. The lienholder’s interest will not be protected:

Loss Payable Clause. Payment under this Part IV for a loss to a covered auto will be made according to your interest and the interest of any lienholder shown on the declarations page or designated by you. At our option, payment may be made to both jointly, or to either separately. However, if the covered auto is not a total loss, we may make payment to you and the repairer of the autoauto when there is a lienholder interest. The If the loss payee or lienholder makes a claim under this Policy, the loss payee or lienholder’s interest will not be protected:

Loss Payable Clause. Payment under this Part IV for a loss to a covered auto will be made according to your interest and the interest of any lienholder shown on the declarations page or designated desig- nated by you. At our option, payment may be made to both jointly, or to either separately. However, if the covered auto is not a total loss, we may make payment to you and the repairer of the auto. The lienholder’s interest will not be protected: