Art. 18 Act on Building Insurance in the Canton of Graubünden (Building Insurance Act, GebVG) (Gebäudeversicherungsgesetz, GebVG)

1. The buildings are insured at replacement value. The replacement value corresponds to the cost required to construct a building of the same type, same size, and same level of finish at the same location.

2. If the market value of a building has decreased by more than half of the replacement value, it will be insured at market value. The market value corresponds to the replacement value, less depreciation due to age, wear and tear, weather influences, construction damage, construction defects, or other reasons.

3. Buildings that are intended for demolition or are no longer usable due to decay are insured at demolition value. The demolition value corresponds to the sale value of the building materials, insofar as this exceeds the costs of demolition.

4. The building insurance may exclude a building from replacement value insurance for significant reasons and insure it at market value or agree upon a fixed insurance sum with the owner.

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