average clause
nounDefinition of average clause
1 : a clause in an insurance policy that restricts the amount payable to a sum not to exceed the value of the property destroyed and that bears the same proportion to the loss as the face of the policy does to the value of the property insured — compare coinsurance
2 : a clause in a marine insurance policy that exempts the insurer from particular average and in respect of some things from all average
Comments on average clause
What made you want to look up average clause? Please tell us where you read or heard it (including the quote, if possible).
Test Your Vocabulary
Late Autumn 2018 Words of the Day Quiz
-
- Which is a synonym of yahoo?
Test your knowledge - and maybe learn something along the way.
TAKE THE QUIZ
Test Your Knowledge - and learn some interesting things along the way.
TAKE THE QUIZ
Share average clause
Resources for average clause