Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

contribution clause

Read a random definition: RPTR.

A quick definition of contribution clause:

Contribution Clause: This is a term that refers to a clause in an insurance policy that is also known as the coinsurance clause. It means that if you have more than one insurance policy covering the same risk, each policy will pay a portion of the claim. The contribution clause ensures that the policyholder does not receive more than the actual amount of the loss.

A more thorough explanation:

A contribution clause is a provision in an insurance policy that requires the policyholder to share in the cost of a claim if they are underinsured. This clause is also known as a coinsurance clause.

For example, let's say a homeowner has a property insurance policy with a 90% coinsurance clause. The policy has a limit of $200,000 for the home's replacement cost. If the homeowner only insures the home for $150,000, they are underinsured by 25%. If the home sustains $50,000 in damages, the homeowner would be responsible for paying 25% of the claim, or $12,500, out of pocket.

The contribution clause is designed to encourage policyholders to insure their property for its full value, so that they are not left with a large financial burden in the event of a claim.

contribution bar | contributione facienda

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
OMG U MEAN A NEW ALBUM OMGG NOW I CAN BE DISTRACTED AGAIN
shaquilleoatmeal
17:14
Nah not a Garmin, Apple watch
We not gonna see splitterus for 4 hrs
HAHAHAHHA
MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
wait but actually is there no wave today
i dont really like chromakopia that much i also havent gotten thru it
JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
yeah seeing him live prob makes it a million times better
Thought I was dead is great raps
2024 such a great year for rap
JumpySubsequentDolphin
17:21
i like noid
even outside the beef. Noid is great too
JumpySubsequentDolphin
17:22
boogies album was the worst ever
JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
shaquilleoatmeal
17:43
went to eat - did anyone guess the bowl lmao
shaquilleoatmeal
17:43
ooo yall were too busy with that kendrick shit
LSD+ is ad-free, with DMs, discounts, case briefs & more.