Consequential Loss (Fire) Policy Coverage
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Questions and Answers

What cost is not recoverable under the extension of consequential loss insurance?

  • Additional cost to restore damaged property to its original new condition
  • Cost incurred in compliance with Regulations or Bye-laws before the damage (correct)
  • Amount of any rate, tax, or duty payable due to property capital appreciation
  • Cost incurred in complying with Regulations or Bye-laws after the damage

    • Under consequential loss insurance, what is excluded in terms of undamaged property?

  • Property damaged or destroyed after extension of the insurance
  • Foundations of the undamaged property
  • Entire undamaged property or portions of it
  • Undamaged portions of property other than foundations (correct)

    • What type of charges are not recoverable under consequential loss insurance?

  • Charges from regular property tax payments
  • Charges related to capital appreciation or property compliance costs (correct)
  • Charges due to non-compliance with Regulations or Bye-laws
  • Charges arising from property maintenance

    • Which of the following is not a recoverable cost under consequential loss insurance?

    <p>Cost to restore damaged property to new condition post-compliance with Regulations</p> Signup and view all the answers

    What is specifically excluded from coverage under consequential loss insurance?

    <p>Foundations of undamaged property</p> Signup and view all the answers

    Consequential loss insurance does not cover the cost incurred in complying with Regulations or Bye-laws related to:

    <p>Regulations after the extension of the insurance</p> Signup and view all the answers

    What amount is not recoverable under consequential loss insurance related to capital appreciation charges?

    <p>$10,000 development charge due to property value increase</p> Signup and view all the answers

    What type of damage cost cannot be claimed under consequential loss insurance?

    <p>$100,000 cost for restoring damaged property to new condition</p> Signup and view all the answers

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