Replacement Cost Coverage definition

Replacement Cost Coverage means coverage specifically allocated to help the business cover costs associated with recruiting, hiring, and training a replacement for the key person, up to the limits specified in the policy.
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Examples of Replacement Cost Coverage in a sentence

  • But, if the loss or damage happens after the first 24 months, we will not provide Replacement Cost Coverage.

  • The endorsements set out in this section apply to every policy, with the exception(s) of: Fire Fighting Apparatus, Excluding Named Person, Fire and Theft Deductible, Replacement Cost Coverage, Incidental Commercial Use (Section C) and Incidental Commercial Use (Sections A, B and C) which apply only if indicated on the Summary of Coverage page.

  • If the loss or damage happens within the first 24 months from the date you took delivery of your snowmobile, the Replacement Cost Coverage provided by this endorsement will apply to all losses for which your snowmobile is insured under Section C.

  • Your snowmobile must be continuously insured for Replacement Cost Coverage with us or another insurance company.

  • If the loss or damage happens within the first 24 months from the date you took delivery of the ATV, the Replacement Cost Coverage provided by this endorsement will apply to all losses for which your ATV is insured under Section C.

  • Except as otherwise provided in Section 6.1.11, such insurance (i) shall be Replacement Cost Coverage in an amount equal to the full replacement cost of the Property or such lesser amounts approved by Administrative Agent in its sole discretion, and (ii) shall have deductibles no greater than $250,000 for insurance required hereunder (or, with respect to named seismic insurance and named storm insurance, deductibles no greater than the 5% of the Total Insurable Value).

  • Except as otherwise provided in section 6.1.11, such insurance (i) shall be Replacement Cost Coverage in an amount equal to the full replacement cost of the Property or such lesser amounts approved by Lender in its sole discretion (or after a Securitization, upon receipt of a Rating Agency Confirmation), and (ii) shall have deductibles no greater than $100,000 for insurance required hereunder.

  • Such policy shall further provide Replacement Cost Coverage and contain an Agreed Amount endorsement.

  • If the Policy Declarations indicates a premium charge for Repair Or Replacement Cost Coverage (Coverage RC), it will be our option to pay to repair or replace the auto to which Coverage RC applies as shown on the Policy Declarations for a covered loss, subject to the applicable Auto Collision Insurance or Auto Comprehensive Insurance deductible, but without a deduction for depreciation.

  • The endorsements set out in this section apply to every policy, with the exception(s) of: Fire Fighting Apparatus, Excluding Named Person, Fire and Theft Deductible, Replacement Cost Coverage, Incidental Commercial Use (Section C) and Incidental Commercial Use (Sections A and C) which apply only if indicated on the Summary of Coverage page.