§431:10E-103  Exceptions.  Section431:10E-102 does not apply to:

(1)  Insurance on buildings and building serviceequipment pertaining thereto and part thereof, and machinery, tools, and otherequipment appurtenant to or used in connection with any trade, business,manufacturing process, governmental operations, or public and privateinstitutions, and household furniture and furnishings in dwelling houses, withrespect to the difference between the actual value of the insured property atthe time any loss or damage occurs and the cost of repairing, rebuilding, orreplacing with new materials of like size, kind and quality, such property ashas been damaged or destroyed by fire or other peril insured against.

(2)  Insurance against the cost of demolition orreconstruction, or both, of any portion of the insured premises which has notsuffered damage, and the additional cost of repair or reconstruction, or both,of portions of the insured premises which have suffered damage, necessary tocomply with applicable laws or ordinances. [L 1987, c 347, pt of §2]