Examples of Damaged Property in a sentence
Restoration of Damaged Property: If any direct or indirect damage is done to public or private property resulting from any act, omission, neglect, or misconduct, the Contractor shall restore the damaged property to a condition equal to that existing before the damage at no additional cost to the Government.
Any amount paid under this section will be offset against any amount claimed under section 3(1) Lost or Damaged Property.
The Sum Insured is $144,000.Therefore, if a $100,000 loss occurs, We would pay$144,000 x $100,000 / $160,000 = $90,000So, We would pay $90,000 (less any applicable Excess), to the Insured for repair or replacement of the Damaged Property Insured in this particular case.
All other Property Insured that is Damaged For all other Property Insured that is Damaged We will pay for the Reinstatement or Replacement unless “Indemnity” is shown in the Schedule or You wish Us to pay the Indemnity cost for all or any of the Damaged Property Insured as the Basis of Settlement.
Where Property Insured has been Damaged and can be economically repaired, We will pay the cost necessary to reinstate or repair the Damaged Property Insured to a condition substantially the same as, but not better or more extensive than, its condition at the time of the Damage.