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Question: After the Hurricane Maria loss, I have seen many insured, brokers or agents that have signed the Agreed Value Statement of Values and after inspection of building or books the sum insured seems to be inadequate. Is there any way that the coinsurance clause can be applied after the loss?
In the event a policy has an agreed amount for a building, let's say it's $100,000 and a wind deductible of 2% but the property is valued at $150,000: Does the deductible apply over the $100,000 or the $150,000?
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