MARKET VALUE
Market Value & Replacement Cost
If you own commercial property , choosing a property insurance policy that fits your specific needs is important . A wide variety of policy options are available at different prices that cover an assortment of reimbursement options . Although there are policies that offer a large amount of financial coverage , depending on the type of property that will be insured , it may make more financial sense to pick a policy that still offers adequate coverage while having lower premiums .
Commercial properties can be covered in a variety of ways , and a number of factors can determine whether your property ’ s value goes up or down each year . Knowing how much your property is worth and obtaining the insurance policy that both protects you and suits your financial needs is important . The following are descriptions of common types of policies and valuation , and the costs that they generally cover .
MARKET VALUE
Simply put , market value describes the estimated amount that a property would sell for on the date of valuation . Any land included in a commercial property is also a part of its market value . The term market value can be used interchangeably
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