 Insurance time (by Glr [MA]) Jun 24, 2022 9:00 PM
 Insurance time (by Robert J [CA]) Jun 25, 2022 4:39 PM
Insurance time (by WMH [NC]) Jun 25, 2022 5:35 PM
Insurance time (by Ray-N-Pa [PA]) Jun 27, 2022 11:57 AM
Insurance time (by Glr [MA]) Posted on: Jun 24, 2022 9:00 PM
Message:
It’s renewal time for me (travelers). What’s the concensus for a 3 cam? Replacement or cash value? Also rental lost, is that your full rental amount per year or a certain %.
My prop is assessed at 1 mill. It’s insured at 774k, rental lost is a % of that, so that is 74k. Should I raise the rental loss to match the true amount of rental per year, which by default will raise the insured amount. --73.17.xxx.xx |
Insurance time (by Robert J [CA]) Posted on: Jun 25, 2022 4:39 PM
Message:
Insurance regulations, you have to insure your property for at least 80% of the value, otherwise you won't get a full payout being under insured. Even if your is under the policy limits, you payout will be less. --47.156.xx.xx |
Insurance time (by WMH [NC]) Posted on: Jun 25, 2022 5:35 PM
Message:
I just got notices on several properties that our WIND insurance limits did not match our DWELLING insurance limits (2 different policies.) Had to raise them to RCV (Replacement Cash Value) based on Dwelling Insurer's formula.
So at the same time I sent the agent a list of all current rents.
Some policies went up a bit. Not a big deal really. --50.82.xxx.xxx |
Insurance time (by Ray-N-Pa [PA]) Posted on: Jun 27, 2022 11:57 AM
Message:
I am a cash value advocate myself. I am not all the sure I would want to rebuild again after any fire --24.101.xxx.xxx |
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