Extra Charges Cluase

EXTRA CHARGES CLAUSE #

This Policy extends to include the extra cost of reinstatement (including demolition or dismantling) of damaged property necessarily incurred to comply with the requirements of any Act parliament or regulation made there under or any bye-law or Regulation of any Municipal or other Statutory Authority; subject to the following Provisions and subject also  to the Terms, Conditions and Limits(s) or Sub-Limits of Liability of this Policy.

Provision #

1. The work of reinstatement (which may be carried out wholly or partially upon any other sites), if the requirements of the aforesaid Act, Regulation or bye-Law so necessitate, subject to the liability of the insurer(s) not being thereby increased), must be commenced and carried out with reasonable dispatch, failing which the Insurer’s) shall not be liable to make any payment beyond the amount which would have been payable under this Policy if this memorandum had not been incorporated herein.
2. The amount recoverable shall not include the additional cost incurred in complying with any such Act, Regulation, Bye-Law or requirement with which the insured had been required to comply prior to the happening of these damage.
3. Co-insurance shall not be applied to the amount recoverable under this memorandum and any amount specified shall not be taken into account for co-insurance purpose in terms set out in any clause contained in this policy.