Basis of Claims Settlement. The settlement of any claim shall be by replacement, repair and/or compensation at Insurer’s option. In the event of the total loss or destruction of any item insured under this Insurance, the basis of settlement shall be the cost of replacing the item as new provided that the item is substantially the same as but not better than the original when new. Household linen and clothing Where any claim includes loss of or damage to any item(s) of household linen and clothing, Insurers will take into consideration the age, quality, degree of use and consequent market value of any such lost or damaged item(s).
Basis of Claims Settlement. In the event of: Total or Constructive Total Loss
Basis of Claims Settlement. The amount payable shall be the actual amount of the reduction in rent receivable incurred during the indemnity period in consequence of the damage. Where under the terms of the lease or leases, rent reviews would have taken place during the indemnity period the basis of claims settlement shall take into account such rent reviews, provided that our total liability shall not exceed two hundred percent (200%) of the sum insured on loss of rent receivable.
Basis of Claims Settlement. We will pay for 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. Any payments made for loss or damage shall not reduce the amounts of insurance provided by this policy.
Basis of Claims Settlement. In the event of:
Basis of Claims Settlement. The settlement of any claim shall be by replacement, repair and/or compensation at Insurer’s option. In the event of the total loss or destruction of any item insured under this Insurance, the basis of settlement shall be the cost of replacing the item as new provided that the item is substantially the same as but not better than the original when new. Household linen and clothing Where any claim includes loss of or damage to any item(s) of household linen and clothing, Insurers will take into consideration the age, quality, degree of use and consequent market value of any such lost or damaged item(s). Documents Where any claim includes loss of or damage to documents the basis of settlement shall relate to the reasonable costs of reprinting and/or reasonable costs of reissue and/or reconstitution including, where applicable, fresh research or exploration to obtain essential information. POLICY EXCESS Insurers will not pay the first GBP 50 of each claim per customer PAIRS & SETS CLAUSE Where any items are part of a pair or of a set, Insurers shall only pay for the actual items which are lost or damaged. No payment will be made by Insurers for any items which are part of a pair or of a set and which are not lost or damaged.
