Don't under-report your property values or you may be penalized. Most policies contain a coinsurance provision that applies a penalty to a loss if values are underreported. The best prevention is to have an outside company perform a building cost appraisal on a periodic basis.
Don't under-report your property values or you may be penalized. Most policies contain a coinsurance provision that applies a penalty to a loss if values are underreported. The best prevention is to have an outside company perform a building cost appraisal on a periodic basis.
