VU Resources

Tenant Improvements & Betterments…OWNER Beware!

If you insure the tenant of a building and they install improvements and betterments, you certainly want to make sure they’re adequately insured, particularly if the lease makes the tenant…

Business Income vs. Manufacturer’s Selling Price

An agent asks, “I’m quoting a tank fabrication operation. They manufacture large metal tanks at their facility, transport the tanks to the customer’s location, and install them. The current agent…

Loss Payee vs. Lenders Loss Payable

Sometimes a third party wants to be added as a named insured on a property policy, but the insurer refuses. As an alternative, the party elects to be named as…

Margin Clauses

Blanket insurance is often the most effective and safest way to write property insurance on risks with multiple locations. Since the limit can be applied to any location, it lessens…

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Conditions

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Understanding the Agreed Value Option

Question: I have always understood Agreed Value to do away with the coinsurance clause. I have also understood it to stand alone, meaning no ACV or RC noted on the…

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How to Explain Coinsurance to Clients

One of the toughest tasks facing insurance agents involves how to go about explaining coinsurance…why it exists, what’s its purpose, and how it works. Below is an explanation that you…

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Property Replacement at the Same Location

One of the greatest myths in commercial property (and homeowners) insurance is that, in order to recover on a replacement cost basis, not only must the building be replaced, but…

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Coinsurance Visualizer

One of the most difficult insurance concepts to explain to insureds is coinsurance. To assist you, there are several VU articles listed below that should be helpful. In addition, John…

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