The Known Loss Rule: Find Out Why You Should Make Repairs Before Taking Out a Commercial Property Insurance Policy
For many commercial property owners, the last thing on their mind when shopping for commercial property insurance is the current need for repairs to their property. Unfortunately, this fact can sometimes leave property owners dealing with a denied claim in the future. This denial is the result of what has become known in the industry as the known loss rule.
What Is the Known Loss Rule?
The known loss rule is really quite simple.