Reconstruction Cost definition
Reconstruction Cost means, for the purposes of this regulation, the cost to replace or rebuild a home to original or like standards at current material and labor costs within a certain geographical area.
Reconstruction Cost means the lesser of the amount required at the time of the loss to repair or replace a structure at the same location with materials and workmanship of like kind and quality. “Reconstruction cost” does not include deduction for depreciation or any amount required to comply with the enforcement of any ordinance or law. It also does not include any amount required for the excavation, replacement or stabilization of land under or around a structure.
Reconstruction Cost means the lesser of the amount required at the time of loss to repair, replace or rebuild, at the same location, your house or any other permanent structure, using like design, and materials and workmanship of comparable kind and quality.