Our Options. a. We have the option to: 1) pay the loss in money; or 2) rebuild, repair or replace with property of equivalent kind and quality, to the extent practicable, within a reasonable time. We must give the insured notice of our intent to do so within 30 days after receipt of a duly executed proof of loss. b. We may take all or any part of damaged property at the agreed or appraised value. Any property paid for or replaced shall become our property.
Appears in 3 contracts
Sources: Insurance Policy, Insurance Agreement, Insurance Agreement
Our Options. a. 1) We have the option to:
1(a) pay the loss in money; or
2(b) rebuild, repair or replace with property of equivalent kind and quality, to the extent practicable, within a reasonable time. We must give the insured notice of our intent to do so within 30 days after receipt of a duly executed an acceptable proof of loss.
b. 2) We may take all or any part of damaged property at the agreed or appraised value. Any property paid for or replaced shall become our property.
Appears in 3 contracts
Sources: General Policy Provisions Agreement, General Policy Provisions Agreement, Condominium Unit Owners / Cooperative Apartment Shared Ownership Agreement
Our Options. a. We have the option tomay:
1) a. pay the loss in money; or
2) b. rebuild, repair or replace with property of equivalent kind and quality, to the extent practicable, within a reasonable timeproperty. We must give the insured you notice of our intent to do so within 30 days after receipt of a duly executed we receive an acceptable proof of loss.
b. . We may take all or any part of the damaged property at the agreed or appraised value. Any property Property paid for or replaced shall become our propertyby us becomes ours.
Appears in 1 contract
Sources: Insurance Policy
Our Options. a. We have the option tomay:
1) a. pay the loss in money; or
2) rebuildb. repair, repair replace or replace with property of equivalent kind and quality, to rebuild the extent practicable, within a reasonable timeproperty. We must give the insured notice of our intent to do so within 30 days after receipt of we have received a duly executed satisfactory proof of loss.
b. . We may take all or any a part of the damaged property at the agreed or appraised value. Any property Property that we have paid for or replaced shall will become our property.
Appears in 1 contract
Sources: Inland Marine Insurance Policy