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Agreed value, coinsurance and deductibles

Agreed value is also referred to as agreed amount. The agreed value endorsement in a property insurance policy waives the coinsurance clause.

By FC&S Editors | Updated on January 10, 2018
Commercial property policies have at least one deductible, and that deductible typically is subtracted from the loss total before the claim payment is made. (Photo: iStock)

Analysis brought to you by the experts at FC&S Online, the unquestioned authority on insurance coverage interpretation and analysis for the P&C industry. To find out more — or to have YOUR coverage question answered — visit the National Underwriter website, or contact the editors via Twitter: @FCSbulletins.

Question: After the Hurricane Maria loss, I have seen many insured, brokers or agents that have signed the Agreed Value Statement of Values and after inspection of building or books the sum insured seems to be inadequate. Is there any way that the coinsurance clause can be applied after the loss?  

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