Restoration Premium

Definition of "Restoration premium"

Sum that an insurance company charges a business firm to restore a property or liability insurance policy, or a bond, to its initial face value after the insurance company has paid a claim either to the insured business or to a third party on behalf of the insured business.

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What is an appraised value? What is a APR Loan? What is a lock in? What is a mortgage broker? If I want to buy a house and I know the property and the seller already have an agent, can I act as my own agent and negotiate a lower fee?