It is agreed that in the event of indemnifiable loss or damage the insured shall have the right upon request to reinstate the sum insured in which event the insured shall Automatically pay additional premium at an agreed rate on the amount of the loss from the date of such loss or damage to the expiry of the period of insurance.
Showing posts with label AUTOMATIC REINSTATEMENT CLAUSE. Show all posts
Showing posts with label AUTOMATIC REINSTATEMENT CLAUSE. Show all posts
AUTOMATIC REINSTATEMENT OF SUM INSURED
In consideration of the Insured undertaking to pay any premium at the agreed rate on the amount of loss on pro-rata basis from the date of such loss to expire of the current period of insurance, it is agreed that in the event of loss the Insurance hereunder shall automatically remain in force for the full sum insured.
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