Common use of Basis of Settlement Clause in Contracts

Basis of Settlement. Subject to the “General Conditions” of the policy, we will pay for any insured loss or damage arising out of an occurrence, up to the applicable amount(s) of insurance. After each occurrence, you remain covered for the same amounts of insurance. Any payment for loss or damage will not reduce the amounts of insurance provided by this policy. If any property is subject to more than one limitation, only the lowest limitation will apply.

Basis of Settlement. Subject to the “General Conditions” Conditions of the policy, we will pay for any insured loss or damage arising out of an occurrence, up to the applicable amount(s) of insurance. After each insurance for any loss or damage arising out of one occurrence, you remain covered for the same amounts of insurance. Any payment for loss or damage will not reduce the amounts of insurance provided by this policy. If any property is subject to more than one limitation, only the lowest limitation will apply.