Insurance Industry Advises Small Businesses Not to Skimp on Coverage

By | February 23, 2009

  • February 23, 2009 at 12:18 pm
    dk says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    What’s next, an article titled:

    “Grocery stores advise families not to skimp on Cherrios”?

    “Car dealers advise young urban professionals not to skimp on Volvos”?

  • February 23, 2009 at 12:42 pm
    Wondering says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    “At the same time, she noted, real estate values have fallen and so it might make sense for some companies to reduce coverage.”

    Really? And the policy form states that the basis of coverage is “Market Value”? It makes perfect sense for the taxing authorities to reduce the values being taxed, which would provide financial relief to business owners and homeowners, but will that happen? Don’t hold your breath.

    With the coming inflation we will see the cost of reconstruction jumping by double digits.

    You’d think someone would edit published articles. This seems to be more of a column filler piece than a public service article – quickly typed, pasted and ignored.

  • February 24, 2009 at 6:56 am
    BC says:
    Like or Dislike:
    Thumb up 0
    Thumb down 0

    Wondering, I noticed the same error. When we do costimators for our new and renewal business we are not seeing a reduction in replacement cost due to the reduction in real estate values (Market Value).
    If our industry trade groups do not understand this just think how the general public views Replacement Cost vs Market Value.



Add a Comment

Your email address will not be published. Required fields are marked *

*