Which of the following is a reinstatement condition?
Asked by: Imogene Parker | Last update: August 26, 2025Score: 4.8/5 (10 votes)
What is a reinstatement condition?
This means that if your home needs to be repaired or rebuilt, your insurance will only pay the reasonable costs to meet the reinstatement condition and will not cover the cost to improve or enhance your home.
What are the examples of reinstatement?
The school board voted to reinstate the school's uniform policy. After his name was cleared, he was reinstated as committee chairperson. Before the end of the month, they were reinstated to their jobs. Smith has asked the appeals court to reinstate those charges.
What are the reinstatement value conditions?
Reinstatement Value Conditions/RVCs – refers to clauses commonly found in property insurance policies in terms of which it is agreed that the insurer will accept the value of new property as a measure of the indemnity payment.
What is reinstatement condition in fire insurance?
Fire reinstatement is the process of restoring or replacing a property or asset that has been damaged or destroyed by fire. A fire insurance policy usually covers it with a reinstatement value clause, which pays the reinstatement cost up to the policy limit regardless of the amount of the loss.
What is reinstatement policy?
What is a reinstatement cover?
Reinstatement is the repair or replacement of property so that it is in the same condition or a materially equivalent condition to that which it was in prior to the loss occurring. The wording of reinstatement clauses, however, varies from Policy to policy with very different Outcomes for the policyholder.
What is a reinstatement of limits in insurance?
Aggregate Limits Reinstatement is an insurance policy clause that allows policy limits to be returned to their maximum amount during the policy's extended reporting period.
What is the new reinstatement value clause?
The reinstatement value is a claim settlement method in fire insurance. Under this clause, the insurer pays the replacement value of the damaged property or asset as the claim amount, allowing the policyholder to replace it with a new one of the same kind.
What does reinstatement amount mean?
Reinstatement involves making a single payment to catch up with everything due on a loan. By contrast, payoff involves paying the lender the total remaining balance of the loan.
What is asset reinstatement?
Reinstatements are reversals of retirements, which correct retirement errors by undoing the retirement of an asset and reinstating it. You can reinstate: Both individual and mass retirement transactions. Only the most recent or processed retirement.
What is the reinstatement meaning?
: to place again (as in possession or in a former position) 2. : to restore to a previous effective state. reinstatement. ˌrē-ən-ˈstāt-mənt.
What is an example of a reinstatement effect?
the return of a response to an extinguished conditioned stimulus due to exposure to an unconditioned stimulus. For example, a person who gets a headache from using earbuds may develop an aversion to using them.
What are the rights of reinstatement?
1 A RoR allows a customer to redeem or sell shares in the fund and reinvest some or all of the proceeds, and receive a waiver of the sales load or a rebate on the CDSC, within a specified period of time (for example, 90 days), in the same share class of that fund or another fund within the same fund family subject to ...
What does reinstatement value mean?
A reinstatement valuation reflects what it would cost to demolish and rebuild a damaged property on a like-for-like basis, taking into account everything from carting away the debris to planning and design fees, materials and building work. It should not be confused with market value.
What is reinstatement process?
Reinstatement is an application submitted to U.S. Citizenship and Immigration Services (USCIS) by a student who has violated their F-1 status to request return to legal student status. A reinstatement application costs $370 and can take approximately five months to be processed by USCIS.
What is the reinstatement effect?
The reinstatement effect captures the change in the task content of production, but now in favor of labor as the increase in N reinstates labor into new tasks. This change in task content always increases the labor share. It also improves productivity as new tasks exploit labor's comparative advantage.
What is the reinstatement condition of insurance?
Reinstatement in the insurance industry means a person's previously terminated policy can resume if the already insured meets the specific requirements for reinstatement. Typically insurance companies offer policyholders a grace period for late payments before a policy terminates.
What is the purpose of reinstate?
to put someone back in a job or position previously held, or to put a law or rule back into effect: She will be reinstated to her full professorship and receive back pay and benefits. The hospital suspended Goldstein during the investigation but reinstated him when the report cleared him of any wrongdoing.
What is the reinstated amount?
Reinstatement Amount means the amount of Corporate Level Debt to the extent such obligations will be reinstated pursuant to the Plan, including, to the extent applicable, based on the elections of the holders of such Corporate Level Debt prior to the election deadline established by the Bankruptcy Court.
What is a reinstatement amount?
A "reinstatement" occurs when the borrower brings the delinquent loan current in one lump sum. Reinstating a loan stops a foreclosure because the borrower catches up on the defaulted payments. The borrower also has to pay any overdue fees and expenses incurred because of the default.
What is the reinstated rule?
Reinstatement refers to the act of restoring someone or something to a former position, status , or condition . In the context of employment , reinstatement typically occurs when an employee who was wrongfully terminated , suspended, or laid off is returned to their previous job position.
What is the principle of reinstatement?
Reinstatement of any property generally means replacement of what is lost or repairing the damaged property by bringing it to its original value and usefulness.
What happens when you reinstate your insurance?
See if your policy can be reinstated
That means you'll maintain continuous insurance with the policy you had previously. When reinstating, you'll pay the past due balance, and you'll be covered without any lapse.
Which of the following is true concerning reinstatement of a life insurance policy?
Final answer: The true statement about the reinstatement of a life insurance policy is that companies have the right to require medical examinations. Back premiums typically must be paid, and proof of insurability is usually required.
What is the reinstatement premium for insurance?
A reinstatement premium is a prorated insurance or reinsurance premium charged for the reinstatement of the amount of a primary policy or reinsurance coverage limit that has been reduced or exhausted by loss payments under such coverages.