Total loss
It shall be deemed that a piece of machinery and / or equipment has been completely destroyed when the cost of repairing it, including the ordinary assembly, dismantling and transportation expenses and customs duties, exceed the real value of this machinery and / or equipment at the moment immediately prior to the loss, taking into account its condition and the depreciation due to the use thereof.
Indemnity for total loss shall be calculated using the real value as a base, minus the value of the wreckage and the deductible stipulated.
- In the case of a loss guaranteed by cover B.5. - consequential losses, the sustained loss shall be calculated in the following way:
21. Calculation of the indemnity
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Liberty Commercial Premises insurance