Insurance to value is critical for both the insurer, which needs to collect adequate premiums, and for the customer, who needs building limits that will cover reconstruction costs and avoid possible problems with falling short of coinsurance requirements.
What does IV stand for?
IV stands for Insurance to Value (insurance)
This definition appears somewhat frequently and is found in the following Acronym Finder categories:
- Business, finance, etc.
See other definitions of IV
We have 27 other meanings of IV in our Acronym Attic
- Independent Verification
- Individual Value (Pokémon video game)
- Information Visualization
- Initial Value
- Initial Velocity
- Initialization Vector
- Innoventions (Disneyland, EPCOT)
- Input Voltage
- Instrumental Variable
Samples in periodicals archive:
My camp insurance underwriter is concerned about insurance to value on several of my buildings.
Consequences of too little insurance to value Depending on how your property insurance is set up, you might incur a penalty on a loss if you are caught short on insurance to value.
This is analogous to the way the insurance industry shortchanges itself every day by not getting appropriate insurance to value on insured properties.