RULE 10.17 - INSURANCE TO VALUE
Proper insurance to value on the dwelling must be maintained as follows:
1) Premier - 100% of Replacement Cost unless CO 04 56 - Special Loss Settlement is attached.
2) Premier Plus - 100% of Replacement Cost.
3) Premier Select - There is no minimum insurance to replacement value limit. Losses are paid up to the Premier Select - Coverage A limit.
4) Premier Condominium - There is no minimum insurance to replacement value limit.
5) Premier Renters - There is no minimum insurance to replacement value limit.
Obtaining accurate replacement cost is of utmost importance when writing a property policy. To assist in proper valuation and classification of the property, a standardized cost estimating process has been developed and must be utilized.
