Need help. I have an insured w/ a 50% occupied office building LRO. It was built in 1985, is about 60k sq ft & is in great condition. It's currently in E&S and I'm doing his renewal apps.
He only holds 2mm in debt on the building & of course...only wants it insured to 2mm even though the RC is about 5mm. Questions..
1.) Is it unreasonable to ask the E&S wholesaler for NO COINSURANCE and just under insure it for a fee so he can get RC? (on last years quote, they gave this option for about 3k extra.)
2.) Should I just submit a request for agreed value?
3.) How is agreed value
Source of insurance-forums.net
He only holds 2mm in debt on the building & of course...only wants it insured to 2mm even though the RC is about 5mm. Questions..
1.) Is it unreasonable to ask the E&S wholesaler for NO COINSURANCE and just under insure it for a fee so he can get RC? (on last years quote, they gave this option for about 3k extra.)
2.) Should I just submit a request for agreed value?
3.) How is agreed value
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