When it comes to commercial property insurance, coinsurance plays a crucial role in how expenses are shared between you, as the property owner, and your insurance company. Here's how coinsurance works in the context of commercial property insurance and how it can affect your business:
In summary, coinsurance in commercial property insurance determines how property damage expenses are shared between you and your insurer. Understanding your coinsurance percentage, policy limits, and how they affect your out-of-pocket costs is essential for making informed decisions about your commercial property insurance coverage, managing risks, and budgeting for potential property damage events.
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