apportionment clause

Definition

A clause that requires claims on a property to be divided among all insurance policies covering that property.

Use this term in a sentence

If you want to have more freedom with a deal you should try and include an apportionment clause in it.

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You should try to make sure that you ask for an apportionment clause so that you will have more flexibility in the deal.

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The apportionment clause ensured that each party involved would be receiving funds from the claim, this made each party happy.

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apportionment appraisal