Why is it important to keep property values up-to-date in my business policy?
October 1, 2016 | By Marcee Wardell |
Insurance companies determine premiums by taking in to account the risks associated with the business, the amount of coverage needed for full protection of the business, the business’s history, and statistics predicting the losses and claims by businesses. The amount of property insurance coverage is based on the cost to rebuild and restore the business, not the property’s market value. Insuring property to-value protects businesses against major losses.
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