Cost of a Fire Insurance Policy Fire Insurance is the perfect protection plan for your offices, home, and any other workplace. It protects your building, assets, furniture, and fixtures against a series of perils. Claims can settle under this policy either on a market value basis or on a reinstatement value basis. So, what will […]
Search Results for: What Is Reinstatement Value Clause in Office Insurance Policy?
Here's what we've found for you
Buy a home insurance policy that pays actual cost of repairs
Published in Mint on 28th August, 2017. Written by Abhishek Bondia I am looking to buy home insurance for my apartment. If I buy a long-term policy (10 years) now, will the rates be locked-in for the period, regardless of increase in premium for renewals? —Harpal Khanna Yes. If you buy a long-term policy, premium […]
How Is the Loss of Profit Claims Settled Under Office Insurance Policy?
Loss of profit is based on the premise that the business is interrupted due to a covered peril. The Loss of profit claims under Office Insurance covers the following types of losses: Loss of revenue Excess cost of operations due to the insured peril Settlement of Loss of Revenue Claims Loss of revenue to the […]
Reinstatement Value Clause in Office Insurance Policy
The reinstatement Value Clause (RVC), defines the terms and conditions of payment of reinstatement claims under property insurance policies. It defines the reinstatement value that will be payable after the loss. And the conditions under which this value may be altered even after the claim has been accepted by the insurer. So, what is Reinstatement […]