Restoration Premium


Definition of "Restoration premium"

Sheila Page Doney real estate agent
Sheila Page Doney, Real Estate Agent Re/Max Acent

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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