Agreed Amount Endorsement

Property Policy provision under which the insured and the Insurer agree that the amount of Insurance specified in an endorsement will automatically satisfy the co-Insurance clause. An agreed amount endorsement eliminates the necessity of determining whether the Insurance carried is at least equal to the stated percentage of the value indicated in the co-Insurance clause. Refer “Co-Insurance.”

Leave a Reply

Your email address will not be published. Required fields are marked *