Examples of using Insurable value in English and their translations into Russian
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Official
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Colloquial
The insurable value of household property is indicated in the policy.
Sum insured shall be equal to the insurable value for the whole period of insurance.
Insurable value shall be the normal price of the insured object.
Overinsurance means a situation where the sum insured considerably exceeds the insurable value.
Insurable value of a building shall mean the reinstatement value less depreciation.
If the insured sum differs from the insurable value less than 10%, no underinsurance shall be applied.
Sample: Insurable value of a building is 1,000,000 euro and the sum insured stated in insurance contract is 500,000 euro.
In case of an insured event related to a building, Insurer shall compensate the loss within the extent of the insurable value of building.
The insurable value of a new insured object shall be equal to its first sale price and shall remain stable for a year.
It is not possible to repair the machine and it is not possible to determine the insurable value as the machine was manufactured to meet a specific order.
Insurable value of a structure shall mean the sum of expenditure necessary for the reinstatement of the structure in its initial form and quality, less depreciation.
The Insurer shall not consider the underinsurance,if the difference between the sum insured and the insurable value is less than 10.
If the repair cost exceeds the insurable value of insured item,the loss amount shall be equal to the insurable value.
Additional costs in connection with eliminating the consequences of an insured event shall be indemnified within 10% of the insurable value of the object.
Sample: Insurable value of goods is 100,000 euro before the occurrence of insured event and the sum insured stated in insurance contract is 60,000 euro.
Underinsurance means a situation where the sum insured is smaller than the insurable value at the time of occurrence of the insured event.
The current insurable value of the United Nations premises at Headquarters, including the premises at 3-5 Sutton Place and 801 United Nations Plaza is $550 million.
Over insurance shall mean a situation where the sum insured orthe agreed maximum insurance indemnity exceeds the insurable value of insured object.
Insurable value of goods, inventory and equipment shall mean the normal value of an equivalent item immediately before the occurrence of insured event.
When deciding on the terms and conditions of an insurance contract(including insurable value, sum insured, insurance premium, etc.), the Insurer relies on the data provided by the Policyholder.
Insurable value of jewels, valuables, works of art, antiques, motor vehicles, aircraft and watercraft and their parts shall always be equal to their market value. .
Insurer shall not be obligated to compensate the Policyholder for more than theactual amount of loss, even if the sum insured is higher than the insurable value upon the occurrence of insured event.
It is permissible, but in practice allows Insurer to seek to manipulate amount of insurable value at loss adjustment in order to minimize insurance indemnity under article 949 of the Civil Code of the Russian Federation.
Moreover, there had been limitations in the competitive bidding process for establishing and renewing foreign property coverage andthere was no methodology for determining the insurable value of assets.
In the absence of a formal appraisal, the Office of Internal Oversight Services was not able to confirm whether the current insurable value was equivalent to the cost of replacing the building in the event of a catastrophe.
Double insurance shall mean a situation where the insured object is partially or totally insured against the same risk by several Insurers and the total amount of indemnities to be paid by Insurers wouldexceed the amount of loss or the total amount of sums insured would exceed the insurable value.
Additional duties include collaborating with other departments in developing insurable values of property and preparing periodic reports to senior management on how an organization's assets and resources are being protected.
The Insurer shall not be obligated to compensate the Policyholder for more than theactual amount of loss, even if the sum insured is higher than the insurable value during the occurrence of the insured event.
Underinsurance of goods, inventory and equipment If the sum insured of goods and/or inventory andequipment is less than the insurable value, Insurer shall decrease its performance obligation according to the proportion between sum insured and insurable value.
Multiple insurance means a situation where the policyholder insures the same insured risk at several insurers and the total amount of insurance indemnities payable by the insurers would exceed the amount of loss orthe sums insured together would exceed the insurable value.