Waiver Of Inventory Clause

DEFINITION of 'Waiver Of Inventory Clause '

A clause in an insurance policy that says that the insurance company will not require the policyholder to provide a written list of the property that was not damaged during an insured event. The waiver of inventory clause will usually only apply to certain types of claims, such as claims for less than a specified amount.

BREAKING DOWN 'Waiver Of Inventory Clause '

A waiver of inventory clause can provide a significant benefit for the policyholder since preparing a detailed inventory can be tedious and time consuming. If the items in the inventory are of significant value, the additional time and expense of an appraisal might normally be required to establish a value for those items.

RELATED TERMS
  1. Valuation Clause

    A provision in certain insurance policies that specifies the ...
  2. Waiver Of Coinsurance Clause

    Language in an insurance policy that says the insurance company ...
  3. Cooperation Clause

    An insurance contract clause that requires the policyholder to ...
  4. Waiver Of Premium Rider

    A clause in an insurance policy that waives the policyholder's ...
  5. Waiver Of Restoration Premium

    A clause in an insurance policy that says that the insurance ...
  6. Waiver Of Premium For Payer Benefit ...

    A clause in an insurance policy that says that the insurance ...
Related Articles
  1. Personal Finance

    Life Insurance Clauses Determine Your Coverage

    Understanding these key parts of your policy will help you to ensure that your family will be covered.
  2. Investing

    Days Sales of Inventory

    Days Sales of Inventory, also called Days Inventory Outstanding, is a key financial measurement of a company's performance pertaining to inventory management. In simple terms, it tells how many ...
  3. Personal Finance

    Understanding Insurance Claims

    An insurance claim is a formal request made to an insurance company that asks for a payment based on the terms of the policy.
  4. Investing

    How to Analyze a Company's Inventory

    Discover how to analyze a company's inventory by understanding different types of inventory and doing a quantitative and qualitative assessment of inventory.
  5. Investing

    Explaining Carrying Cost of Inventory

    The carrying cost of inventory is the cost a business pays for holding goods in stock.
  6. Investing

    How to Calculate Average Inventory

    Average inventory is the median value of an inventory at a specific time period.
  7. Investing

    What is Involved in Inventory Management?

    Inventory management refers to the theories, functions and management skills involved in controlling an inventory.
  8. Personal Finance

    How Life Insurance Payouts Work

    Life insurance provides peace of mind to policyholders and their loved ones.
  9. Personal Finance

    Protect Your Company From Employee Lawsuits

    Understanding employment practices liability insurance is easy, once you know the basics.
  10. Personal Finance

    Is Loan Protection Insurance Right For You?

    This coverage can keep you from defaulting on your loans when you're in financial trouble.
RELATED FAQS
  1. Can you sue an insurance company for not paying a claim over a waiver of subrogation ...

    Learn more about insurance and why waivers of subrogation are common with property insurance. Find out about liability risk ... Read Answer >>
  2. Can you ask your landlord to remove a waiver of subrogation clause from your lease?

    Learn how to remove a waiver of subrogation clause from a lease. Find out also why you might not want to strike this clause ... Read Answer >>
  3. Is a waiver of subrogation clause better for a tenant or a landlord?

    Find out why a waiver of subrogation clause is important to include in a lease agreement, and understand how it affects landlords ... Read Answer >>
  4. Why should investors care about the Days Sales of Inventory (DSI)?

    Learn about days sales of inventory and what it measures; understand why an investor would want to know a company's days ... Read Answer >>
  5. How do you analyze inventory on the balance sheet?

    Learn how to analyze inventory using financial statements and footnotes by doing ratio analysis and performing qualitative ... Read Answer >>
  6. Does working capital include inventory?

    Learn about inventory that is part of current assets and working capital, which is the difference between current assets ... Read Answer >>
Trading Center