Loss of Rent Clause

LOSS OF RENT CLAUSE #

It is hereby declared and agreed when the rented building is untenantable or cannot be occupied as it should be for a period of, at least, 3 x 24 hours in consequence of loss of or damage caused by fire or any other perils insured against, and in view thereof rent receivable that should be received by the insured, based on the contract agreement, is therefor ceased, subject to the following conditions the company will indemnify the insured on loss of the rent income whilst the building is actually untenantable or occupied as it supposed to be, due to repair and reinstated period.

The period of repair and/or reinstatement is calculated from  the building is untenantable until completion of repair or reinstatement or the expiry of the contract period, which ever first occur, with a maximum indemnity of the sum insured therein.

If because of anything, repair or reinstatement cannot be carried out immediately, the period of the repair or reinstatement is calculated in accordance with the normal period adequate for that purposes.