{"id":12,"date":"2013-09-23T22:11:18","date_gmt":"2013-09-23T22:11:18","guid":{"rendered":"http:\/\/www.rylexinsurance.com\/?page_id=12"},"modified":"2013-10-22T17:09:21","modified_gmt":"2013-10-22T17:09:21","slug":"faqs","status":"publish","type":"page","link":"http:\/\/www.rylexinsurance.com\/?page_id=12","title":{"rendered":"FAQ&#8217;s"},"content":{"rendered":"<p><strong>What is Co-Insurance?<\/strong><br \/>\nThe success of any fire insurance program is measured by it&#8217;s effectiveness\u00a0following the loss of an insured. Thus, in establishing adequate coverage,\u00a0one must have firsthand information as to the insurable values at risk. Book values do not fulfill this purpose. Insurable values are the present day\u00a0replacement costs with proper allowance for depreciation. Since\u00a0replacement costs fluctuate, it is necessary to keep a constant check on\u00a0insurance values.<\/p>\n<p>The insurance applying in the following example is subject\u00a0to the 90% Co-Insurance Clause. Under the terms of this clause, you should\u00a0insure the property at risk, to the stipulated percentage of value. If you fail to\u00a0do so, you will not be fully re-imbursed for any loss that may occur. The manner in which the Co-Insurance Clause would operate in the event of a partial loss is shown below and is a hypothetical example:<\/p>\n<p>INSURABLE VALUE = $100,000.00<\/p>\n<p>INSURANCE CARRIED = $60,000.00<\/p>\n<p>INSURANCE REQUIRED (under 90% Co-Insurance Clause) = $90,000.00<\/p>\n<p>AMOUNT OF LOSS = $10,000.00<\/p>\n<p>POLICY PAYS = $6,667.00<\/p>\n<p>INSURED PAYS = $3,333.00<\/p>\n<p>The above example is merely to show you how Co-Insurance works. If at any time you<br \/>\nshould substantially increase building values or contents values, you must notify us<br \/>\nimmediately to increase your coverage, in order to avoid any Co-Insurance penalties.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What is Co-Insurance? The success of any fire insurance program is measured by it&#8217;s effectiveness\u00a0following the loss of an insured. Thus, in establishing adequate coverage,\u00a0one must have firsthand information as to the insurable values at risk. Book values do not&hellip; <\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"_links":{"self":[{"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=\/wp\/v2\/pages\/12"}],"collection":[{"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12"}],"version-history":[{"count":7,"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=\/wp\/v2\/pages\/12\/revisions"}],"predecessor-version":[{"id":129,"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=\/wp\/v2\/pages\/12\/revisions\/129"}],"wp:attachment":[{"href":"http:\/\/www.rylexinsurance.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}