Question / Issue |
|
I am trying to rate a BR but the bldg value is $1,100,000 and for the life of me it willl not rate it. It is saved under Leonard Street, LLC. I got a wrong quote due to I changed the value to $1,000,000. Help!! |
Answer / Solution |
|
The minimum building value (if you are only rating a building and no contents) must be $1,250,001 to qualify for first loss (must be less than 80% - Amount of insurance divided by the actual value). So if you change the Building Value field to this value and the Building Amount of Insurance to $1,000,000 you should get the quote to rate. You can then, on the app, overwrite the building value with the actual value.
Note: This will only apply to CNR risks and not CR risks |