Insured Values definition

Insured Values means the amount for which insurance cover is obtained in respect of the property, other asset or interest insured, and the basis on which insurance premium is computed.
View Source
Insured Values means the amount for which insurance cover is obtained in respect of the property, other asset or interest insured, and the basis on which insurance premium is computed. According to the coinsurance clause, it must not be lower than a certain percentage of the insurable value of the property, other asset or interest insured to be able to claim a partial loss in full.
View Source

Examples of Insured Values in a sentence

  • The Reinsured shall provide the Reinsurers an updated Statement each calendar quarter thereafter during the Contract Term, reflecting the Gross TIV and the subtotal for the Total Insured Values for Terrorism coverage in the Target Area zip codes at the same date.

  • The Reinsured has provided the Reinsurers a statement of Reinsured Exposure prior to the Contract Term, (“Statement”), reflecting the Reinsured’s Total Insured Values for terrorism coverage at the date of that report (“Gross TIV”) plus the Total Insured Values for Terrorism coverage in the Target Area zip codes at the same date.

  • The Contractor shall use this report to determine if any policy limits need to be increased as a result of quarterly reported Total Insured Values.

  • All Insured Values / Sums Insured provided by you are deemed by us to be adequate for your purposes and to include VAT at the prevailing rate (unless otherwise stated).

  • If Insured Values / Sums Insured are too low and you are therefore under-insured, then the condition of an average will apply, which stipulates that if the value of the property is greater than the sum insured, then you shall bear the risk of the difference in value.

  • In addition to the exceptions noted in Section 4, above, the deductible under Tenant’s property insurance for earthquake coverage is 5% of Total Insured Values with a $100,000 minimum in California, Hawaii and Alaska and a $100,000 minimum in all other states.

  • Total Insured Values for any one risk ceded to the agreement shall not exceed $10,000,000 for Protected Risks and $5,000,000 for Unprotected Risks.

  • The deductible for storm and wind damage is 2% of Total Insured Values or a minimum of $100,000 in Tier 1 counties and all of Florida.

Related to Insured Values

  • Insured Amount As defined in the Policy.

  • Stored value means monetary value that is evidenced by an electronic record.

  • Casualty Value means the market value of the Equipment at the end of the Term or when in relation to a Total Loss, the market value the Equipment would have had at the end of the Term but for the Total Loss. The Casualty Value may be less than but will not be more than the original purchase price of the Equipment.

  • Appraised Value The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.

  • Special Hazard Loss Coverage Amount With respect to the first Distribution Date, $5,000,000. With respect to any Distribution Date after the first Distribution Date, the lesser of (a) the greatest of (i) 1% of the aggregate of the principal balances of the Mortgage Loans, (ii) twice the principal balance of the largest Mortgage Loan and (iii) the aggregate of the principal balances of all Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate principal balance of any such zip code area and (b) the Special Hazard Loss Coverage Amount as of the Closing Date less the amount, if any, of Special Hazard Losses allocated to the Certificates since the Closing Date. All principal balances for the purpose of this definition will be calculated as of the first day of the calendar month preceding the month of such Distribution Date after giving effect to Scheduled Payments on the Mortgage Loans then due, whether or not paid.