Common use of Salvage Clause in Contracts

Salvage. (1) The Insured, in the event of any loss or damage to any property insured under the contract, shall take all reasonable steps to prevent further damage to such property so damaged and to prevent damage to other property insured hereunder including, if necessary, its removal to prevent damage or further damage thereto. (2) The Insurer shall contribute pro rata towards any reasonable and proper expenses in connection with steps taken by the Insured and required under sub-paragraph (1) of this condition according to the respective interests of the parties.

Appears in 8 contracts

Sources: Insurance Agreement, Insurance Agreement, Rented Dwelling Comprehensive Form

Salvage. (1a) The Insured, in the event of any loss or damage to any property insured under the contract, shall take all reasonable steps to prevent further damage to such property so damaged and to prevent damage to other property insured hereunder including, if necessary, its removal to prevent damage or further damage thereto. (2b) The Insurer shall contribute pro rata towards any reasonable and proper expenses in connection with steps taken by the Insured and required under sub-paragraph subparagraph (1A) of this condition according to the respective interests of the parties.

Appears in 3 contracts

Sources: Tenants Insurance Agreement, Tenants Insurance Agreement, Tenants Insurance Agreement

Salvage. (1) The Insured, in the event of any loss or damage to any property insured under the contract, shall take all reasonable steps to prevent further damage to such property so damaged and to prevent damage to other property insured hereunder including, if necessary, its removal to prevent damage or further damage thereto. (2) The Insurer shall contribute pro rata towards any reasonable and proper expenses in connection with steps taken by the Insured and required under sub-sub paragraph (1) of this condition according to the respective interests of the parties.

Appears in 3 contracts

Sources: Homeowners Insurance Policy, High Valued Homeowners Insurance Policy Agreement, High Valued Homeowners Insurance Policy

Salvage. (1) The Insured, in the event of any loss or damage to any property insured under the contract, shall take all reasonable steps to prevent further damage to such property so damaged and to prevent damage to other property insured hereunder including, if necessary, its removal re moval to prevent damage or further damage thereto. (2) The Insurer shall contribute pro rata towards any reasonable and proper expenses in connection with steps taken by the Insured Insure d and required under sub-sub paragraph (1) of this condition according to the respective interests of the parties.

Appears in 1 contract

Sources: High Valued Homeowners Insurance Policy

Salvage. (1) . The Insuredinsured, in the event of any loss or damage to any property insured under the contract, shall take all reasonable and proper steps to prevent further damage to any such property so damaged and to prevent damage to other property insured hereunder including, if necessary, its removal to prevent damage or further damage thereto. (2) . The Insurer insurer shall contribute pro rata towards any reasonable and proper expenses in connection with steps taken by the Insured insured and required under sub-paragraph (subparagraph 1) . of this condition according to the respective interests interest of the parties.

Appears in 1 contract

Sources: Insurance Policy Agreement

Salvage. (1) The Insured, in the event of any loss or damage to any property insured under the contract, shall take all reasonable steps to prevent further damage to such property so damaged and to prevent damage to other property insured hereunder including, if necessary, its removal to prevent damage or further damage thereto. (2) The Insurer shall contribute pro rata towards any reasonable and proper expenses in connection with steps taken by the Insured Insure d and required under sub-sub paragraph (1) of this condition according to the respective interests of the parties.

Appears in 1 contract

Sources: High Valued Homeowners Insurance Policy Agreement

Salvage. (1) The Insured, in the event ev ent of any loss or damage to any property insured under the contract, shall take all reasonable steps to prevent further t o prev ent f urther damage to such property so damaged and to prevent prev ent damage to other property insured hereunder including, if necessarynecessary , its removal remov al to prevent prev e nt damage or further f urther damage thereto. (2) The Insurer shall contribute pro rata towards any reasonable and proper expenses in connection connect ion with steps taken by the Insured and required under sub-sub paragraph (1) of this condition according to the respective respectiv e interests of the parties.

Appears in 1 contract

Sources: High Valued Homeowners Insurance Policy