The Apportionment Clause Makes It Impossible for You to Collect

question 27

True/False

The apportionment clause makes it impossible for you to collect more than the value of your loss when you have multiple policies.

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Definitions:

Scrap Value

The estimated resale value of an asset after its useful life is over.

Transmitter

A device or system that sends out signals, messages, or other forms of communication.

Sum-Of-The-Years-Digits

A depreciation method that accelerates the rate of depreciation, basing it on a fraction that decreases annually.

Scrap Value

The estimated resale value of an asset at the end of its useful life.