Sentences with phrase «insured on the replacement»

For example, suppose that you own a building that you have insured on a replacement cost basis.

For the sake of simplicity, we'll assume that all of the property cited in the following examples is insured on a replacement cost basis at 100 % of its value (meaning no coinsurance applies).

Assume that you own a building that you have insured on a replacement cost basis.

The company insures the household contents as per the market value, while electrical items are insured on the replacement value.

Not exact matches

Get insured for the replacement cost on your home.

If Bob has properly endorsed the watch on his policy with the standard HO -61-B Valuable Items Plus endorsement, the watch would be covered at its full replacement cost, up to the value it is insured for under the endorsement.

On the contrary, you probably CAN afford a replacement phone, blender or auto repair in which case you can self - insure in these areas of your life and avoid lining the pockets of third party extended warranty companies.

You can insure your property based on its actual cash value or its replacement cost.

Insure the property on a replacement - cost basis but make sure the coverage limit is adequate.

(1) If an insured person becomes entitled to receive an income replacement benefit on or after his or her 65th birthday,

(3) If a person qualifies for a non-earner benefit under paragraph 2 of subsection (1) and more than 104 weeks have elapsed since the onset of the disability, the amount of the non-earner benefit is $ 320 for each week that the insured person suffers a complete inability to carry on a normal life, less the total of all other income replacement assistance, if any, for the same week.

(2) The amount of a non-earner benefit is $ 185 for each week during the period that the insured person suffers a complete inability to carry on a normal life, less the total of all other income replacement assistance, if any, for the same week.

The insured claimed in each case that the insurer's letter and attached «STANDARD REPORT,» when read together, gave rise to a legal obligation to determine the «actual cash value» of the property on the basis of a replacement cost less ten percent depreciation, an amount more than that determined due by the insurer and later by a referee.

[92] These indicators of legislative meaning overwhelmingly demonstrate that statutory condition 6 (7) was meant solely to codify the principle that on paying the insured the full value of the damaged car (the actual cash value or replacement value), the insurer is entitled to take the salvage.

This means means property not insured within the proper percentage (Co-insurance %) of the «Replacement Value» of their property then the loss incurred will be reimbursed on a Actual Cash Value basis.

In an effort to not get too technical on you I would say that as long as your policy in written and insured at Replacement Cost you are doing well.

If your house is insured with replacement cost on personal property, your insurer will give you $ 10,000 for the bedroom suite you spent $ 9,000 on last year, because that is what it costs to buy a similar suite today.

Though, experts usually recommend insuring your property on a replacement cost basis because if you bought an item several years ago, its current value may be considerably less than the total cost of replacement.

Insured travelers should call their travel insurance assistance services hotline (listed in your plan documents) for advice and help getting a passport replacement either before they leave or while they're on their trip.

This clause requires that policyholders insure their property or revenue stream (with respect to business interruption) to an appropriate value (shown as a percentage) and that the insurer receives a fair premium for the risk (whether on a replacement cost basis or an actual cash value basis — the latter being subject to depreciation).

Before then, you'd just insure your home on the basis of total replacement cover which was calculated on a square meter basis, often up to a maximum of $ 1,000,000.»

Most homeowner's and renter's plans let the insured schedule specific items like these on their home insurance coverage and often up to replacement value.

Disability income insurance: Insurance that provides periodic payments, or in some cases a lump - sum payment, based on the insured's income replacement needs, when the insured is unable to work due to illness or injury.

For example, you'll want to insure your home based on its replacement value, not how much you paid for it.

Coverage limits vary depending on the driver's state as well as the replacement cost of the insured vehicle.

I do some replacement cost appraisals on properties here in Florida and everyone says the same thing, how can you say my house needs to be insured for $ 1,000,000 when I can buy the house across the street for $ 500k?

This can be helpful in that if the funds were being counted on for payment of certain debts or the replacement of the insured's income, there would be a set amount coming to the insured's survivors from the variable life plan.

-LSB-...] to not get too technical on you I would say that as long as your policy in written and insured at Replacement Cost you are doing -LSB-...]

The policy will pay up to the maximum value listed on the policy, so it is important to understand the replacement cost of your home or insured vehicle.

Owners of a higher - end second home typically want to insure it with a policy similar to what they have on their full - time residence, which includes a comprehensive list of causes of loss and replacement cost settlement.

It also depends on whether you are insuring under a true value or a replacement value policy which determines how much your items will be worth.

Replacement Cost of rebuilding your home is based on the insured value of the home.

When buying home insurance, you should insure your home based on its replacement cost, which is the amount you need to rebuild it if damaged or destroyed, and not its market value, which is what you could sell your home for in its current condition.

The cost of lettering, embossing, tinting, painting, silvering or any other such ornamental work on the replacement Glass, on the condition that such costs were included in the Sum Insured of the Glass under this section.0000

In order to get the full sum assured value, you should insure the property on reinstatement (replacement) value.

The traditional way to figure this out is to base your insured amount on your income replacement.

For example, if you've just purchased a derelict home that you intend on tearing down to rebuild, you will want to insure it on an actual cash value basis because there is no point in getting replacement cost (see our Q&A on How Should I Insure a Vacant Building to learn insure it on an actual cash value basis because there is no point in getting replacement cost (see our Q&A on How Should I Insure a Vacant Building to learn Insure a Vacant Building to learn more).

Some carriers insure projects based on the expected replacement cost of the property once the project is completed, whereas others stair - step the coverage using the current replacement costs of the project.

Even if you have elected to insure your business personal property on a replacement cost basis, any loss involving works of art will be determined based on the actual cash value of the damaged item.

Thus, a policyholder insuring a car valued at $ 30,000 with a $ 1,000 deductible on a replacement cost valuation, would receive a check in the amount of $ 29,000 in the event of a total loss.

Today it is Replacement Cost Coverage, which means each insurance company designates a percentage of additional coverage on top of the insured amount.

A specific kind of renters insurance that insures for actual replacement cost rather than based on the calculation of the depreciated cash value or market value.

The housing market has been hit hard by the recession, so if your home value has dropped significantly, make sure you are insured for the replacement cost of the house, and not its current value on the market.

Therefore, if a person totaled a brand new car insured by an insurance policy on a replacement cost valuation, although the insurance company will pay for the full value of the car, they must deduct the amount indicated in the deductible portion of the policy.

A lender requires you to insure your home based on its replacement cost, or the cost to rebuild it.

Today, it is replacement cost coverage, which means each insurance company designates a percentage of additional coverage on top of the insured amount.

However, you can choose to insure under a TX policy that works on replacement value instead which means you will be offered more for your damaged items and should be able to buy these things new without spending too much money out of pocket.

A specific form of renters insurance personal property protection that insures for actual replacement cost rather than based on any calculation of depreciated actual cash value or market value.

However, the insured value at the time of the loss is usually required to be at least 80 % of the replacement cost before your policy is covered on a replacement cost basis.

Insuring Your Louisiana Living Quarters Homeowners insurance can vary greatly depending on the replacement value of your home.