Common use of Repair or Replacement Cost Without Deduction for Depreciation Clause in Contracts

Repair or Replacement Cost Without Deduction for Depreciation. If the following conditions are met, we will pay the cost, at the date of the occurrence, to repair or replace, whichever is lower, the property covered under “Coverage A – Dwelling and Improvements and Betterments”. (a) Repair or replacement must be made on the same location. (b) Materials used to repair or rebuild must be of similar quality as the materials in place prior to the occurrence. (c) Repair or replacement must be done within a reasonable time after the occurrence. (d) The building occupancy must be the same as prior to the occurrence. The amount of insurance paid will not take into account depreciation. This option does not apply to dilapidated detached private structures that are not useable for their original purpose.

Repair or Replacement Cost Without Deduction for Depreciation. If the following conditions are met, we will pay the cost, at the date of the occurrence, to repair or replace, whichever is lower, the property covered under “Coverage A – Dwelling and Improvements and BettermentsBuilding” or “Coverage B – Detached Private Structures”. (a) Repair or replacement must be made on the same location. (b) Materials used to repair or rebuild must be of similar quality as the materials in place prior to the occurrence. (c) Repair or replacement must be done within a reasonable time after the occurrence. (d) The building occupancy must be the same as prior to the occurrence. The amount of insurance paid will not take into account depreciation. This option does not apply to dilapidated detached to: • Mobile homes; • Dilapidated Detached private structures that are not useable for their the original purpose.

Repair or Replacement Cost Without Deduction for Depreciation. If the following conditions are met, we will pay the cost, at the date of the occurrence, to repair or replace, whichever is lower, the property covered under “Coverage A – Dwelling and Improvements and BettermentsBuilding” or “Coverage B – Detached Private Structures”. (a) Repair repair or replacement must be made on the same location. (b) Materials used to repair or rebuild must be of similar quality as the materials in place prior to the occurrence. (c) Repair repair or replacement must be done within a reasonable time after the occurrence. (d) The building occupancy must be the same as prior to the occurrence. The amount of insurance paid will not take into account depreciation. This option does not apply to dilapidated to: • Mobile homes; • Dilapidated detached private structures that are not useable for their original purpose.

Repair or Replacement Cost Without Deduction for Depreciation. If the following conditions are met, we will pay the cost, at the date of the occurrenceloss, to repair or replace, whichever is lower, the property covered under “Coverage A – Dwelling and Improvements and BettermentsBuilding” or “Coverage B – Detached Private Structures”. (a) Repair or replacement must be made on the same location. (b) Materials used to repair or rebuild must be of similar quality as the materials in place prior to the occurrence. (c) Repair or replacement must be done within a reasonable time after the occurrence. (d) The building occupancy must be the same as prior to the occurrence. The amount of insurance paid will not take into account depreciation. This option does not apply to dilapidated detached private structures that are not useable for their original purpose.

Repair or Replacement Cost Without Deduction for Depreciation. If the following conditions are met, we will pay the cost, at the date of the occurrenceloss, to repair or replace, whichever is lower, the property covered under “Coverage A – Dwelling and Improvements and BettermentsBuilding” or “Coverage B – Detached Private Structures”. (a) Repair or replacement must be made on the same location. (b) Materials used to repair or rebuild must be of similar quality as the materials in place prior to the occurrence. (c) Repair or replacement must be done within a reasonable time after the occurrence. (d) The building occupancy must be the same as prior to the occurrence. The amount of insurance paid will not take into account depreciation. This option does not apply to dilapidated to: • Mobile homes; • Dilapidated detached private structures that are not useable for their original purpose.