Common use of Types of Insurance (Non-Construction Clause in Contracts

Types of Insurance (Non-Construction. (a) Property Insurance - An all risk or special form, including fire, vandalism and malicious mischief insurance. The amount of such insurance must be the full insurable value of the Premises. All such policies must specify that proceeds shall be payable whether or not any damaged or destroyed Improvements are actually rebuilt. All such policies must waive any requirement that a building or structure be replaced at its original site.

Types of Insurance (Non-Construction. (a) Property Insurance - An all risk or special form, including fire, vandalism and malicious mischief insurance. The amount of such insurance must be the full insurable value of the Premises. All such policies must specify that proceeds shall be payable whether or not any damaged or destroyed Improvements improvements are actually rebuilt. All such policies must waive any requirement that a building or structure be replaced at its original site.