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Resources Insurance Dictionary Abandonment Clause or Condition - Definition of the Insurance Term Abandonment Clause or Condition
Abandonment Clause or Condition
A clause that prohibits the abandonment of partially damaged property to the insurer in order to claim a total loss. The company may choose to acquire damaged property which can be sold for salvage and choose to pay a total loss, but the insured cannot insist that the insurer take possession of any property.
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