Sentences with phrase «on a replacement cost basis»

You can protect your business against a large out - of - pocket expense by insuring your personal property on a replacement cost basis.

Some policies provide roof coverage on a replacement cost basis.

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.

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

However, personal property that can not be repaired or dried out is paid for on a replacement cost basis only if you purchased the optional replacement cost contents coverage.

This includes accessories coverage available on a replacement cost basis.

Most building settlements are on Guaranteed Replacement cost and many policies settle contents on a Replacement Cost basis.

If you can afford to purchase insurance on a replacement cost basis, it's usually recommended that you do so.

That amount might not be enough in case you choose to insure the property on a replacement cost basis.

Some policies or endorsements provide coverage on a replacement cost basis.

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.

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).

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).

You consult with a building contractor to determine the value of your building on a replacement cost basis.

Some insurance policies will cover your manufactured home on a Replacement Cost Basis for total losses, or a major catastrophe, but then will only cover you for actual cash value for a partial loss.

REPLACEMENT COST Your building and contents will be written on a replacement cost basis which would replaceitems lost, due to an insured peril, with payment equal to today's purchase price of those items with no deduction for depreciation.

Assume that your policy covers losses on a replacement cost basis.

Repair provision coverage may help pay for repairs to a damaged vehicle on a replacement cost basis without deducting the depreciation in its value.

Buildings and Business Personal Property covered on a replacement cost basis, subject to certain limitations

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

As for valuing the amount of loss, structural damage is usually paid for on a replacement cost basis.

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.

With personal property coverage on a replacement cost basis, loss of use insurance to pay for your hotel, and liability coverage should you cause another person bodily injury or property damage, Effective Coverage has got you covered.

Homes are covered for up to $ 250,000 on a replacement cost basis and the contents for up to $ 100,000 on an actual cash value basis.

Homes are covered for up to $ 250,000 on a replacement cost basis and the contents for up to $ 100,000 on an actual cash value basis.

Covered losses under a homeowners policy can be paid on either an actual cash value basis or on a replacement cost basis.

When you have a claim and the loss settlement is on a replacement cost basis, expect that you will have two cheques at least before getting fully compensated.

This is also a good time to review your insurance policy to make your personal property is covered on a replacement cost basis and not on an actual cash value (ACV) basis.

A: Covered losses under a homeowners policy can be paid on either an actual cash value basis or on a replacement cost basis.

With personal property coverage on a replacement cost basis, loss of use insurance to pay for your hotel, and liability coverage should you cause another person bodily injury or property damage, Effective Coverage has got you covered.