01.Core Concepts

In the event of a loss to a pair or set, the insurer can elect either repair or replace any part of the pair or set or to pay the difference between the actual cash value of the property before and after the loss The appraisal clause is used when the insured and insurer agree that the loss is covered, but the amount of loss is in dispute If other insurance covers a Section I loss, the insurer will only pay the proportion of the loss that its limit of liability bears to the total amount of insurance covering the loss