Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,894,841,328 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Apportionment Clause

    0.01 sec.
Apportionment Clause
When more than one property insurance policy covers the same event, a clause stating that each policy only provides coverage in proportion to the total coverage each policy provides. For example, one may have two policies covering one's home from fire damage. Policy A provides maximum coverage of $40,000 and Policy B provides $60,000, for a total of $100,000. If the home catches fire causing $50,000 in damage, the apportionment clause in each insurance policy requires that Policy A pay for $20,000 and Policy B pay for the remaining $30,000.


Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Feedback
Add definition
Mentioned in?   Financial browser?   Full browser?
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Advertise with Us | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.