Archives FAQs

What is Per Building Deductible?

A deductible that applies to each damaged building in a single event.

Occurrence is a per-event limit/deductible; Aggregate is the maximum total the policy pays for all claims in a period.

Pays the actual dollar amount of lost revenue (like HOA dues) due to a covered loss.

Carriers use RCEs to determine rebuilding cost (insurable value), which differs from market value.

Actual Loss Sustained (ALS) pays the actual amount of lost dues for a specific duration.

Protects communal items like lobby furniture and gym equipment.

Using RCEs that factor in year built, construction quality, square footage, and finishes.

To ensure the Replacement Cost accurately reflects current rebuilding costs rather than market value.

Standard assigns a limit per building; blanket uses one total limit for all buildings.

Calculated as “new for old” value using Replacement Cost Estimators (RCEs) considering construction type, square footage, etc.