insured amount

USAGE SUMMARY

The phrase "insured amount" is correct and usable in written English.
It can be used in contexts related to insurance policies, indicating the total amount covered by the insurance. Example: "The insured amount for the property is set at $500,000 to ensure adequate coverage in case of damage."

✓ Grammatically correct

Science

News & Media

Human-verified examples from authoritative sources

Exact Expressions

24 human-written examples

The overall differences in age, insured amount, insured region, and insured unit between rehabilitation nonusers and users were not significant.

BMC Health Services Research

There were no significant differences in age, insured amount, insured region, or insured unit between rehabilitation service nonusers and users (Table  1).

BMC Health Services Research

a: Adjusted ORs were from the model considering age, gender, insured amount, residential area, and insured unit.

BMC Complementary and Alternative Medicine

The bike-share contract with Alta Bicycle Share protects the city from claims, Mr. Solomonow said, even those above the insured amount; the company has not faced claims so far over the bike-share programs it operates in Washington or Boston.

The New York Times

The premium was found to be almost twice the level obtained under the cost-minimizing solution representing 1.9% of the insured amount.

Journal of Dairy Science

A beneficiary can be a spouse, child, grandparent, sibling, adopted child, grandchild, stepchild and others so it won't take much creativity to maximize the insured amount.

Forbes

Human-verified similar examples from authoritative sources

Similar Expressions

33 human-written examples

This means the insured depositors will be paid to the FDIC insured amounts and all other claims will have to seek recovery from the bankruptcy court.

Huffington Post

According to a report from the Insurance Bureau of Canada, insured damage amounts were estimated at $56 million (2008 CAD), and up to 16,000 insurance claims were filed for damage to homes and automobiles.

Wikipedia

While the length of time varies, the coverage amount for an item is generally a percentage of the total amount insured.

The New York Times

The Independent Insurance Agents and Brokers of America, another industry group, said the cost of insuring that amount of property was about $12 a month, which would also cover $100,000 worth of liability if someone were injured on the premises.

The New York Times

Customers wanting excess insurance would have to purchase or self-insure large amounts of underlying primary insurance in some cases covering the first $50 million of claims.

Forbes

Expert writing Tips

Best practice

When discussing insurance, clearly state the "insured amount" to avoid ambiguity about the extent of coverage. For example, specify "The insured amount for the building is $1 million" rather than simply stating "The building is insured."

Common error

Don't assume that the "insured amount" should always match the market value of the insured item (e.g. property). The "insured amount" should reflect the replacement cost or the specific risks covered, which might differ from the market value.

Linguistic Context

The phrase "insured amount" functions as a noun phrase, typically used as an object or complement in a sentence. It identifies the specific monetary value or extent of coverage provided by an insurance policy. As Ludwig AI suggests, the phrase is considered usable and correct in written English.

Expression frequency: Common

Frequent in

Science

41%

News & Media

41%

Formal & Business

18%

Less common in

Encyclopedias

0%

Wiki

0%

Reference

0%

Ludwig's WRAP-UP

The phrase "insured amount" is a commonly used and grammatically correct noun phrase that refers to the maximum financial coverage provided by an insurance policy. As noted by Ludwig AI, it's considered usable in written English. It appears frequently in contexts related to science, news, and formal business communications. When using this phrase, ensure that the context clearly distinguishes it from related concepts like market value or replacement cost, as highlighted in the writing guidance. While alternatives like "coverage amount" or "policy limit" exist, "insured amount" provides a direct and unambiguous way to specify the extent of financial protection offered by an insurance policy.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

coverage amount

Focuses on the extent of protection offered by an insurance policy.

policy limit

Refers to the maximum liability an insurance company will cover.

amount of coverage

Emphasizes the degree to which something is protected by insurance.

insurance coverage level

Highlights the specific tier or extent of insurance protection.

sum insured

A more formal term specifying the total value covered by an insurance policy.

protected value

Focuses on the monetary worth that the insurance safeguards.

guaranteed amount

Implies a secure or assured financial protection.

face value of the policy

Refers to the nominal or stated value of an insurance policy.

indemnified value

The value at which a loss is compensated or reimbursed.

insured value

The determined worth for insurance purposes.

FAQs

What does the term "insured amount" mean in an insurance policy?

The "insured amount" refers to the maximum sum the insurance company will pay out in the event of a covered loss. It represents the financial limit of the insurance coverage.

How is the "insured amount" determined?

The "insured amount" is typically determined based on factors such as the value of the property or asset being insured, the potential cost of replacement or repair, and the level of coverage desired by the policyholder.

What happens if the actual loss exceeds the "insured amount"?

If the actual loss exceeds the "insured amount", the policyholder will be responsible for covering the difference out-of-pocket. It's important to ensure that the "insured amount" is adequate to cover potential losses.

Is the term "insured amount" the same as "coverage amount"?

Yes, the term "insured amount" is generally interchangeable with "coverage amount". Both terms refer to the maximum financial protection provided by an insurance policy.