BASIS OF CLAIM PAYMENT. Limit of Liability
BASIS OF CLAIM PAYMENT. Unless stated otherwise, we will pay the Actual Cash Value of insured loss or damage up to your financial interest in the property but not exceeding the applicable amount(s) of insurance for any loss or damage arising out of one occurrence. The Actual Cash Value will take into account such things as the cost of replacement less any depreciation, and in determining depreciation we will consider the condition immediately before the damage, the resale value and the normal life expectancy. If you qualify for a tax credit, the loss payment will be reduced by that amount. Any loss or damage will not reduce the amounts of insurance provided by this Form.
BASIS OF CLAIM PAYMENT. 3.1 The maximum Reimbursement Amount We will pay will be HK$4,000 or 50% of Retail Price of the Covered Handset (whichever is the lesser amount).
3.2 Only one claim may be made during the Period of Insurance.
BASIS OF CLAIM PAYMENT. 3.1 The maximum Reimbursement Settlement We will pay will be HK$800.
3.2 Only one claim may be made for Accidental Damage to the Covered Device during the Period of Insurance.
BASIS OF CLAIM PAYMENT. Subject to the conditions under this contract, we shall indemnify you for damage caused to your property in accordance with the Basis of Claim Payment specified on the Coverage Summary page and the following terms and conditions: • on the basis of Actual Cash Value All losses on Watercraft, or Hull & Machinery, ten (10) years of age or older, will be settled on an Actual Cash Value basis. Actual Cash Value means the cost at the time of loss to repair or replace property up to the amount shown on the Coverage Summary page. In determining depreciation, we will consider, but are not limited to, the age, condition, resale value, obsolescence, and normal life expectancy of the property at the time of the loss. • on the basis of Agreed Value All losses on Watercraft, or Hull & Machinery, nine (9) years old and under, will be settled on an Agreed Value basis. Agreed Value means the cost at the time of loss to repair or replace property up to the amount shown on the Coverage Summary page. We will limit the amount payable under this clause to the Actual Cash Value if:
