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Partial value insurance (Liberty Seguros)
Seguro a valor parcial (Liberty Seguro de Comercio) |
The insurance method by means of which an established
amount is guaranteed, up to which the risk is covered, as a
proportional part of the full value declared by the
insured. In case of loss, the losses shal be indemnified according to their real value and, at the most, up to the insured sum calculated by applying the second percentage to the declared value, providing the full real value of the property insured at the time of loss does not exceed the total declared value. |