English version

average clause

From Longman Business Dictionary
Related topics: Insurance, Law
average clauseˈaverage clause INSURANCELAWa condition set by an insurer that a payment for damage or loss will be in proportion to the value insured. For example, if a building worth £100,000 but insured for £50,000 is totally destroyed, the insurers will only pay £25,000 clause
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