What is ‘Value Reporting Form’
An insurance form that is used to provide the variable coverage amounts needed by commercial businesses that carry irregular inventories throughout the year. The value reporting form is used to report inventory values periodically to the insurance company, which in turn adjusts the amount of coverage to reflect current merchandise values. Using a value reporting form can help businesses avoid being over or underinsured.
Explaining ‘Value Reporting Form’
Some commercial businesses have inventories that vary greatly throughout the year depending on supply and demand, seasonal factors and consumer needs. These businesses can maintain a more appropriate level of coverage by adjusting each month’s or each quarter’s insurance needs based on current inventories. The value reporting form is used to reflect the dynamic inventory values.
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