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One of the benefits of the BOP is the built in Seasonal Increase of 25%. This is sometimes referred to as a Peak Season Extension.:
Did You Know that the 25% automatic increase only applies if the limit on the Declarations is 100% to value based on the lesser of the actual values for 12 months prior to the loss or the amount for the entire time the insured has been in business.
Did You Know that if you reduce the amount of insurance you offer on a BOP in acknowledgment that there is an automatic 25% increase that you nullify this built in extension.
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This is the Insurance Webinars Blog section of our Insurance Skills Center Blog website. Our official Insurance Training Webinars website is http://insurancetrainingwebinars.com/ce-education/insurance-skills-center/Default.aspx. Feel free to visit the website to learn more about our Insurance Education Webinars and how you can earn CE by attending one of our Insurance Webinars.
This is the Construction Insurance Blog section of our Insurance Skills Center Blog website. Our official Construction Insurance Website is http://contractorsconference.com/construction-insurance. Feel free to visit the website to learn more about our Construction Insurance Conferences and to learn about the CISC Designation. CISC stands for Certified Insurance Specialist in Construction.
This is the Agribusiness Insurance Blog section of our Insurance Skills Center Blog website. Our official Agribusiness Conference Website is http://agribusinessconference.com/farm-insurance/Default.aspx. Feel free to visit the website to learn more about our Agribusiness Conferences and to learn about the AFIS Designation. AFIS stands for Agribusiness and Farm Insurance Speciaist.
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