FAQ ID # 53 - What is the minimum value the building needs to be to qualify for First Loss rating?

FAQ ID # 53

Last Update : 2009/09/03
Rating : Not Rated

Question / Issue

What is the minimum value the building needs to be to qualify for First Loss rating?

Answer / Solution

First Loss rating minimum value (Commercial properties only):

The percentage for actual value (Building value entry field) to what Citizens will insure to ($1,000,000) (Building Amount of Insurance entry field) must be less than 80%.
If you are rating building only and no contents, then the minimum actual value must be $1,250,001

Direct Link to This FAQ

http://www.itcdataservices.com/support/trfaq/?f=53

Tags

First loss minimum value