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When speaking with a manufacturing insured about their stock and inventory values

30 Oct
Inventory

Don’t forget to discuss how much of their product is sold.

Many times prior to the start of the manufacturing of that product. The Commercial Property coverage values sold stock at selling price, less any manufacturing or shipping expenses not incurred at the time of the loss. This means that the profit margin must be included in the limit of insurance for Business Personal Property. Too many times, this is a forgotten step and could help you gain a new account.

Written by:
Marjorie Segale (AFIS, CISC, RPLM, CIC, CRIS, ACSR, CISR)

http://www.insurancecommunitycenter.com

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