Common use of Loss Payee Clause in Contracts

Loss Payee. If a “loss payee” or lienholder is designated and shown on your declarations page, then a covered loss to an insured vehicle or a newly acquired auto under this Policy will be paid according to your interest and that of any such loss payee or lienholder, and subject to the applicable deductible. At our option, we may make separate payments according to those interests. If we pay a repair shop directly for repair of a loss with your consent, we have no duty to the loss payee or lienholder with respect to that loss. If the loss payee or lienholder makes a claim under this Policy, the loss payee or lienholder: