Automatic Reinstatement Of Sum Insured
It is hereby agreed that in the event of loss covered by the Policy and in the absence of written notice by the Insured to the contrary, the Insurer agrees to reinstate the amount of insurance reduced by loss, from the commencement of the reinstatement, replacement or repair of the loss, destroyed or damage property until expiry of this insurance subject to:
- The Insured notifying the Insurer as soon as practicable of such reinstatement.
- The Insured paying the additional premium calculated at prorate of the appropriate rate from the date of attachment of such reinstatement to the expiry of the insurance.
- The Insurer’s limit liability shall not exceed the sum insured that we’re inforce immediately before the loss.
