Demolition and Increased Cost of Construction. In the event a covered loss is affected by any law or ordinance which regulates the demolition, construction or repair of damaged units or common areas, we shall be liable for:
a. The cost of demolishing the undamaged building, required by such regulations, including the cost of clearing the site;
b. The increased cost of repair or reconstruction of the damaged units or common areas of the building on the same site, limited to the minimum requirements of any law or ordinance regulating the repair or reconstruction of the damaged property with like material, quality, size and style and for like occupancy and use on the same property. We shall not be liable, however, for any increased cost of construction, unless the damaged unit(s) is/are actually rebuilt or replaced; nor shall we be responsible for the cost of betterments not required by law or ordinance. We shall not be responsible for additional costs attributable to providing additional required parking spaces or for services not previously provided at the covered location.
c. Our total liability for the entire property loss shall not exceed 125% of the reported value of the damaged building(s). In a multi-building development, our liability extends to 125% of the reported value of each of the buildings in the development. If a covered entity is alerted that a location’s value appears inadequate, then the covered entity must increase its agreed value, produce a valuation report justifying the reported value or accept no more than 100% of the reported value in coverage.
Demolition and Increased Cost of Construction. Any insurance provided under this Coverage Agreement for Demolition and Increased Cost of Construction is extended to the coverage provided by this endorsement. The most we will pay for the cost of Demolition and Increased Cost of Construction is $1,000,000 unless otherwise shown in a schedule.
Demolition and Increased Cost of Construction. The Company shall be liable under Coverage described in Section A for the increased cost of repair or replacement of damaged and/or undamaged Insured Property (including any necessary demolition and site clearing costs) occasioned by the enforcement of any law, by-law, ordinance, regulation, rule or ruling which is in force prior to the time of the Accident and which regulates or restricts the repair, replacement, construction or installation. The Company shall also be liable for loss under Coverage described in Section B1, 2 and/or 3 of the policy during the additional time required, with the exercise of due diligence and dispatch, to affect such repair or replacement as a result of the enforcement of said law, by-law or ordinance. The Company shall not be liable under Coverage described in Sections A or B1, 2 and/or 3 for:
a) any expense in excess of the cost at the time of the Accident to replace the said property on the same site or a site adjacent thereto with property of such kind, capacity, size, quality and function as will satisfy the minimum requirements prescribed by any law, by-law, ordinance, regulation, rule or ruling. In the event the replacement is by property of a better kind or quality or of a larger capacity or size, the liability of the Company shall not exceed the amount that would be paid if replacement had been made by property as would satisfy such minimum requirements.
b) any increase in loss occasioned by enforcement of any law, by-law, ordinance, rule or ruling affecting the use or operation of the Location or any Object;
c) loss or expense excluded by Section D, Exclusions 3(b) and/or 3(c) of the Boiler policy;
d) loss in excess of the Limit of Liability specified in the Declarations for Demolition and increased Cost of Construction.
Demolition and Increased Cost of Construction. UIN: IRDAN123CP0077V01201819/A0082V01202122
1. The actual expenditure incurred not including the cost of land in rebuilding on another site, or
2. The cost of rebuilding on the same site. The Company shall not be liable for any cost of demolition or increased cost of construction of property necessitated by any law or ordinance regulating any form of pollution or contamination. The indemnity provided herein shall be subject to the limit of indemnity as specified in The Schedule.
Demolition and Increased Cost of Construction. This Contract covers the reasonable and necessary costs incurred, described in Item 3 below, to satisfy the minimum requirements of the enforcement of any law or ordinance regulating the demolition, construction, repair, replacement or use of buildings or structures at an Insured Location, provided:
Demolition and Increased Cost of Construction. The Company shall be liable under Coverage described in Section A for the increased cost of repair or replacement of damaged and/or undamaged Insured Property (including any necessary demolition and site clearing costs) occasioned by the enforcement of any law, by-law, ordinance, regulation, rule or ruling which is in force prior to the time of the Accident and which regulates or restricts the repair, replacement, construction or installation. The Company shall also be liable for loss under Coverage described in Section B1, 2 and/or 3 of the policy during the additional time required, with the exercise of due diligence and dispatch, to affect such repair or replacement as a result of the enforcement of said law, by-law or ordinance. The Company shall not be liable under Coverage described in Sections A or B1, 2 and/or 3 for:
a) any expense in excess of the cost at the time of the Accident to replace the said property on the same site or a site adjacent thereto with property of such kind, capacity, size, quality and function as will satisfy the minimum requirements prescribed by any law, by-law, ordinance, regulation, rule or
Demolition and Increased Cost of Construction. In the event of loss or damage under this policy that caused the enforcement of any law or ordinance regulating the construction or repair of damaged facilities, we shall be liable for:
1. the cost of demolishing the undamaged facility including the cost of clearing the site;
2. the value of such undamaged part of the facility which must be demolished;
3. the increased cost of repair or reconstruction of the damaged and undamaged facility on the same or another site limited to the minimum requirements of such law or ordinance regulating the repair or reconstruction of the damaged property and the cost thereof on the same site. However we shall not be liable for any increased cost of construction loss unless the damaged facility is actually rebuilt or replaced within two years.
4. any increase in the business interruption, with extra expense or rental value loss arising out of the additional time required to comply with said law or ordinance compared with the time it would have taken to replace the loss with materials of like kind and quality.
Demolition and Increased Cost of Construction. This Policy covers the reasonable and necessary costs incurred, described in item 3 below, to satisfy the minimum requirements of the enforcement of any law or ordinance regulating the demolition, construction, repair, replacement or use of buildings or structures at an Insured Location, provided:
