Reinstatement Value definition

Reinstatement Value means the cost of replacing or reinstating on the same site, property of the same kind or type but not superior to or more extensive than the insured property when new.

Reinstatement Value means the cost of replacing or reinstating Glass of the same kind or type but not superior to or more expensive than the Glass when insured.

Reinstatement Value means intrinsic value of insured property or item less due allowance for betterment, wear and tear and/or depreciation

Examples of Reinstatement Value in a sentence

• Reinstatement Value represents the replacement value of the asset as New at time of Damage or Loss.

• Reinstatement Value Policy may be extended to cover additional cost of reinstatement solely by reason of the necessity to comply with the regulations of local authority by incorporating the following clause in the policy.

• If there shall be an accidental breakage (which for the purpose of this Policy shall not include damage by scratches) of any of the Glass or Sanitary fittings mentioned in the Schedule, the Company shall pay or make good to the Insured the reinstatement value of such glass up to the Sum Insured specified in the Schedule against each item.SUM INSURED: Sum Insured shall be on Reinstatement Value basis.Basis of Valuation: Basis of indemnity shall be on Reinstatement Value.

• Sum Insured on Reinstatement Value Basis shall be the Reconstruction Value for the “Building” of the same kind or type but not superior to or more extensive than the insured “Building” when new as determined by the reconstruction cost, excluding the cost the land.

• BASIS OF INDEMNITY: Basis of indemnity shall be on Reinstatement Value.

More Definitions of Reinstatement Value

Reinstatement Value the full cost of reinstating the Property including:- (a) temporarily making the Property safe and protecting any adjoining structures; (b) debris removal demolition and site clearance; (c) obtaining planning and any other requisite consents or approvals; (d) complying with the requirements of any Law; (e) architects' surveyors' and other fees incurred by the Tenant in relation to the reinstatement; (f) all construction costs; (g) any VAT chargeable on any of the reinstatement costs (save where the Tenant is able to recover such VAT as an input in relation to supplies made by the Tenant);

Reinstatement Value the full cost of reinstating the Property including:- temporarily making the Property safe and protecting any adjoining structures; debris removal demolition and site clearance; obtaining planning and any other requisite consents or approvals; complying with the requirements of any Law; architects' surveyors' and other fees incurred by the Tenant in relation to the reinstatement; all construction costs; any VAT chargeable on any of the reinstatement costs (save where the Tenant is able to recover such VAT as an input in relation to supplies made by the Tenant);

Reinstatement Value the cost for the time being at the start of the year of insurance cover in question of reinstating and replacing the Building of which the Demised Premises form part plus a provision to cover the effect of inflation on building costs during the year of insurance and until the Demised Premises have been reinstated together with architects’ surveyors’ and other professional fees and incidental expenses and the costs of demolition and site clearance. “Rent Commencement Date” 1 October 2018.

Reinstatement Value means the cost of replacing or reinstating on your premises, property of the same kind or type but not superior to or more extensive than the insured property when new. At the time of a loss the claim will be settled without applying any depreciation. In effect you will be getting new for old.

Reinstatement Value means the full cost of reinstating the Premises including:-

Reinstatement Value means the cost of replacing or reinstating on the same site with property of the same kind or type but not superior to or more extensive than the insured property when new as on date of the loss, subject to special provisions contained elsewhere in this Policy.

Reinstatement Value means the cost of replacing or reinstating on the same