Increased Cost Of Construction Clause
Definition of "Increased cost of construction clause"
Coverage if state or municipal law requires that a damaged or destroyed building must be rebuilt at an increased cost to comply with building code provisions that were not in effect when the building was originally constructed.
Popular Insurance Terms
Present value of future benefits. This type of reserve would be applicable for single premium life insurance, paid-up insurance, single premium annuity, and a paid-up annuity. ...
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Coverage to indemnify an owner for whom work was done if the completed work is not free of worker's liens for labor and material. ...
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