At all times an amount not less than the total reinstatement or replacement value of the Insured Property669 plus provision to include other Principal Extensions as appropriate. (escalated periodically as appropriate)670
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669 For certain projects, where a total loss is inconceivable (e.g. road and rail) the sum insured could correspond to the Estimated Maximum Loss, rather than the full reinstatement value.
670 It will be important for the parties to agree an appropriate method of escalation.