SINGLE INCLUSIVE LIMIT Clause Samples

SINGLE INCLUSIVE LIMIT. ‌ The Homeowners Enhanced Comprehensive Form package includes a Single Inclusive Coverage Limit under Section 1. This limit may be applied to any insured loss or damage to the property insured in this section of your policy, except for personal property under Coverage C which are subject to Special Limits of Insurance. The single amount of insurance is the sum of the amounts shown on the Coverage Summary page for; A: Dwelling Building, B: Detached Private Structures, C: Personal Property, and D: Additional Living Expense and is the maximum amount we will pay for insured loss or damage in any one occurrence, unless stated otherwise. If the amount of coverage is inadequate to satisfy your loss for any of Coverages A, B, C, or D, you may apply the unused amounts of insurance remaining under these separate limits to make up for any shortfall under an exhausted one and until the total Single Limit amount of insurance has been exhausted. Where a building insured under Coverage A: Dwelling Building is endorsed with Guaranteed Replacement cost and the amount payable for your dwelling exceeds the Coverage A limit shown on the Coverage Summary Page, this additional amount required to rebuild the building will not affect the remaining combined limit of Coverages B, C, and D. If Guaranteed Replacement Cost(Building) is not indicated on the Coverage Summary Page and a total loss has occurred, the Single Limit Amount will be the maximum amount of coverage to settle a claim for any loss covered in Section 1 for any of the affected Coverages A, B, C, or D.