A reporting form is used for Property Insurance a. To maintain the correct limits of coverage without over or under insuring – when the value or volume of insured property varies during the policy ter

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A reporting form is used for Property Insurance

a. To maintain the correct limits of coverage without over or under insuring – when the value or volume of insured property varies during the policy term.

b. To establish a guaranteed amount of insurance based on a report of values submitted to the insurer before the beginning of the policy term.

c. When the insured premises are subject to periodic safety inspections.

d. To report losses and adjust the insurance in force to conform.