A property insurance policy which states just the maximum amount that will be paid by the insurer for any property is known a(n).

Name: A property insurance policy which states just the maximum amount that will be paid by the insurer for any property is known a(n).
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Question

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An open policy does not state the value of the subject matter insured but, instead, leaves the value of the loss to be determined in the event of a claim, up to the maximum amount specified in the policy.

A Property Insurance Policy Which States Just the Maximum Amount