FAQ ID # 124

ItcDataServices.com

Last Update : 2009/09/03
Rating : Not Rated
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Question / Issue
If the building is valued over $2,500,000, will the program still rate the risk?

Answer / Solution

Buildings valued over $2,500,000:

Citizens will only insure each building to $2,500,000.

If the building is valued over this amount, the coinsurance will be waived and be rated on a first loss basis:

  • Enter the actual value of the building in the 100% Valuation entry field.
  • Tab out of the field
  • The Limit entry field will automatically fill with the maximum value of $2,500,000.
  • The Policy Structure field will then change to First loss


Direct Link to This FAQ
http://www.itcdataservices.com/support/trfaq/?f=124

Tags
Building value first loss
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