(a) the building is to be insured for at least the amount determined in
accordance with the regulations,
(b) if the building is destroyed, the
building is to be rebuilt or replaced so that the condition of every part of
the rebuilt or replacement building is not worse or less extensive than that
part when new,
(c) if the building is damaged but not destroyed, the damaged
part of the building is to be repaired or restored so that the condition of
the repaired or restored part is not worse or less extensive than that part
when new,
(d) expenses incurred in removing debris are payable,
(e) the
remuneration of architects and other persons whose services are necessary as
an incident to the rebuilding, replacement, repair or restoration is payable.
(2) Limited sum liability Instead of providing for work and payments being
made if a building is destroyed or damaged, the damage policy may limit the
liability of the insurer in that event to an amount specified in the policy.
The amount must not be less than an amount calculated in accordance with the
regulations.
(3) Parts of building to be covered The parts of a building to
be covered by a damage policy include the following--
