Loss Settlement. In this Condition D., the terms "cost to repair or replace" and "replacement cost" do not include the increased costs incurred to comply with the enforcement of any ordinance or law, except to the extent that coverage for these increased costs is provided in E.11. Ordinance Or Law under Section I – Property Coverages. Covered property losses are settled as follows:
1. Property of the following types:
a. Personal property;
b. Awnings, carpeting, household appliances, outdoor antennas and outdoor equipment, whether or not attached to buildings;
c. Structures that are not buildings; and
d. Grave markers, including mausoleums;
2. Buildings covered under Coverage A or B at replacement cost without deduction for depreciation, subject to the following:
a. If, at the time of loss, the amount of insurance in this policy on the damaged building is 80% or more of the full replacement cost of the building immediately before the loss, we will pay the cost to repair or replace, without deduction for depreciation, but not more than the least of the following amounts:
(1) The limit of liability under this policy that applies to the building;
(2) The replacement cost of that part of the building damaged with material of like kind and quality and for like use; or
(3) The necessary amount actually spent to repair or replace the damaged building.
b. If, at the time of loss, the amount of insurance in this policy on the damaged building is less than 80% of the full replacement cost of the building immediately before the loss, we will pay the greater of the following amounts, but not more than the limit of liability under this policy that applies to the building:
(1) The actual cash value of that part of the building damaged; or
(2) That proportion of the cost to repair or replace, without deduction for depreciation, that part of the building damaged, which the total amount of insurance in this policy on the damaged building bears to 80% of the replacement cost of the building.
c. To determine the amount of insurance required to equal 80% of the full replacement cost of the building immediately before the loss, do not include the value of:
(1) Excavations, footings, foundations, piers, or any other structures or devices that support all or part of the building, which are below the undersurface of the lowest basement floor;
(2) Those supports described in (1) above which are below the surface of the ground inside the foundation walls, if there is no basement; and
(3) Underground...
Loss Settlement. Covered property losses are settled at actual cash value at the time of loss but not more than the amount required to repair or replace.
Loss Settlement. Covered property losses are settled as follows:
1. Personal property and grave markers, includ- ing mausoleums, at actual cash value at the time of loss but not more than the amount re- quired to repair or replace.
Loss Settlement. We will pay up to the limit of insurance shown in the Declarations for this Active Coverage. Payment for covered loss or damage will first be made under your Active Coverage limit. Payment for any excess loss for this category of property may then be made from Blanket coverage. SAMPLE POLICY
Loss Settlement. We will pay up to the limit of insurance shown in the Declarations for this Creative and Maker Coverage. Payment for covered loss or damage will first be made under your Creative and Maker Coverage limit. Payment for any excess loss for this category of property may then be made from Blanket coverage.
Loss Settlement. We will pay up to the limit of insurance shown in the Declarations for this Fashion and Jewelry Coverage. Payment for covered loss or damage will first be made under your Fashion and Jewelry Coverage limit. Payment for any excess loss for this category of property may then be made from Blanket coverage.
Loss Settlement. We will pay up to the limit of insurance shown in the Declarations for this Furniture and Appliances Coverage. Payment for covered loss or damage will first be made under your Furniture and Appliances Coverage limit. Payment for any excess loss for this category of property may then be made from Blanket coverage.
Loss Settlement. We will pay up to the limit of insurance shown in the Declarations for this Technology Coverage. Payment for covered loss or damage will first be made under your Technology Coverage limit. Payment for any excess loss for this category of property may then be made from Blanket coverage.
Loss Settlement. We will pay up to the limit of insurance shown in the Declarations for this Collectibles Coverage. Payment for covered loss or damage will first be made under your Collectibles Coverage limit. Payment for any excess loss for this category of property may then be made from Blanket coverage.
Loss Settlement. Section I – Property loss settlement will be based on those limits found in this coverage. We will not depreciate household pets when settling Section I – Property loss or damage.
