Neil G. McDonald Ltd.
3800 Steeles Ave West, Suite 201E,
Woodbridge, Ontario L4L 4G9
Woodbridge, Ontario L4L 4G9
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Hours
Mon-Fri 9-4:30 EST
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A Clause in an insurance policy requiring the policyholder to maintain insurance at least equal to a specified minimum percentage of the actual cash value, failing which the policyholder must bear, in addition to the deductible amount, a proportionate amount of any partial loss. Also known as Guaranteed amount clause, Average clause, Rule of apportionment.
