20. Appraisal of damages
- The valuation of the damage caused to buildings shall always be carried out in accordance with the following rules:
The building, including the foundations, but not including the value of the plot of land, shall be valued according to the value of new construction at the moment prior to the loss.
The cost of replacing the building shall be construed as including the architect or engineering fees necessary for its reconstruction, although at no time may the indemnity from the insurer exceed the sum insured in the policy for buildings.
If the damaged or destroyed building is not of use to the insured or is not repaired, reconstructed or replaced on the site where it had been at the moment prior to the accident, or in case of any significant modification of its original use, the insurer shall appraise the damages based on its real value, bearing in mind the corresponding deduction for use, age and obsolescence, unless its reconstruction cannot be carried out at the same site by legal imperative.
At all times, the difference between the reconstruction value and the real value shall only be indemnified when the reconstruction of the damaged building is carried out within two years of the occurrence of the loss.
- The goods that form part of the contents shall be valued according to their replacement as new value, except for the following exceptions:
- Computers, electronic equipment and other electrical, electronic or mechanical machinery, which shall be valued pursuant to the regulations stipulated for these kinds of devices and machinery in the section related thereto in Article 20.
- Unused items and those whose real value at the time of the loss is less than 50% of their value as new. These items shall be valued according to their replacement value as new, taking into account their condition and deprectiation due to the use thereof.
With regard to objects that can be repaired, and on agreement from the insured, the insurer shall pay the costs involved in repairing or replacing these items, increased by any loss in value caused following the claim, which were not eliminated by the aforementioned repair or replacement.
The amounts paid for repairs and losses of value may not, under any circumstances whatsoever, exceed the value of the item in question.
With regard to items which are part of a set or collection, if the total loss thereof does not occur, the insurer shall not reimburse the full value of the aforementioned set and / or collection, but solely the cost of the damaged part and, under no circumstances, may the insured try to receive any indemnity for the depreciation that may be caused to the set and / or collection that may now be incomplete as a result of the loss.
- Stock shall be valued according to their cost price at the moment prior to the loss.
Stock belonging to manufacturers, whether currently being manufactured or stored, shall be valued according to the value of the raw material plus the costs incurred to achieve the level of manufacture that these goods had reached at the time of the loss, or the sale value thereof, if this is less.
Any printed originals and / or printing plates shall be valued as blank or unprinted.
- Computers, electronic equipment and other electrical or mechanical machinery, which are already guaranteed by the basic covers or the optional cover B.6. regarding the breakdown of machinery and electronic equipment, shall be valued pursuant to the following regulations:
21. Calculation of the indemnity