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Proper insurance coverage protects your small business from unexpected circumstances and costs. Yet, according to the 2023 Hiscox Underinsurance Report, 75% of small businesses in the U.S. don’t ...
For instance, let’s say you spoke with several local contracting companies and found that, on average, the home rebuilding cost in your area is $200 per square foot. Your home is 1,200 square ...
A business owner's policy (also businessowner's policy, business owners policy or BOP) is a special type of commercial insurance designed for small and medium-sized businesses. [1] BOPs are cost-effective and convenient for business owners, as they provide comprehensive protection against common risks like property damage, lawsuits, and income ...
In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area (also known as CAM - Common Area Maintenance). CAM fees typically are negotiated up front as a set dollar figure per square foot. This form of lease is most frequently used for commercial freestanding buildings.
Many commercial insurance claims are related to burglary and theft. 2. Fire. Small business owners tend to underestimate the likelihood of a fire.
The third and final approach to value is the Cost Approach to value. The Cost Approach to value is most useful in determining insurable value, and cost to construct a new structure or building. For example, single apartment buildings of a given quality tend to sell at a particular price per apartment. [13]
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