Fundamentos de Seguro de PropiedadPregunta 276 de 531
The limit of insurance shown on the declarations for a building tells the insured:
a.The floor beneath which payment cannot fall
b.The most the insurer can be asked to pay
c.The value the insurer places on the building
d.The amount payable for any covered loss
Explicación
A limit is a ceiling and not a promise: the insurer pays the loss as the valuation clause measures it, up to that figure and no further. An insured who reads the limit as the amount payable for any covered loss expects a full-limit check for a broken window. Nor is the limit the insurer's opinion of value; choosing an adequate limit is the insured's job, which is the behavior the coinsurance clause polices.
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