Commercial Lines

With increased costs in this hard market, many insureds want to reduce their premiums. One way to do that is through the use of deductibles. But, how large a deductible…

An insured had an open lot business and stored a substantial amount of business personal property (BPP) in an enclosed shed. They did not insure the shed. Thieves stole $5,000…

It’s relatively easy to convince a prospect they need CGL coverage. However, it may be difficult to convince them that they may need other forms of liability insurance such as…

This is Part 1 of 2 from my Agent & Broker magazine column that generated the most “fan mail” of any columns I’ve written over the years. If you use…

The building is currently insured for replacement cost. The insurer did a new valuation and said the policy limit is 70% of the RC value, which would result in a coinsurance penalty…

Under the valuation condition in a property policy, you can choose to settle a claim using ACV instead of RC (even if you have RC on the declarations page). In…

Your insured is a contractor. He wants to repair insured damage to his own building to ensure that the job is done right. Or, let’s say he negligently causes damage…

The carrier has denied payment for covered damage to our insured tentant’s improvements and betterments based on a clause in the lease that states that all additions, alterations, etc. become the property…

Your insured buys a building for $250,000. The ACV of the building is closer to $750,000, but the insured only wants to insure the amount of his financial investment. Since…

This article was referenced in our VUpoint newsletter, Vol. 1, No. 14, September 18, 2000 and is based on a question submitted to our “Ask an Expert” service. Newsletter readers…