Your Maximum Replacement Value must represent the total current cost of replacing all stored property as new, except the following items where the replacement cost is calculated differently:
- household linen and clothing, motorcars, motorbikes, boats, caravans, motorhomes and any other motorised vehicle, where the Replacement Value allows for the age, quality, degree of use, existing damage and consequent market value;
- any goods which cannot be purchased new (such as antiques or works of art, for example), where the replacement value shall be the current market value; and
- documents, where the Replacement Value shall be calculated as the physical cost of replacing the documents and/or cost of reprinting, re-issue and/or reconstitution, but excluding the value of the information contained in the documents.
