Will my premium be increased if we open a new park/playground?
From a Liability point of view, no. The Liability premium is based on full time equivalent employees. So unless you increase your staff it will not cause your premium to be increased. Therefore, you could open several parks and unless you increase your staff no premium increase will result. Now from the Property coverage side, yes the premium will be increased based on the amount of value to be insured. Options here are for RCV, ACV or stated value. The only other way premiums may be increased would be with any adverse loss experience and or loss ratio increase.

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1. Why am I not receiving emails from LGIT?
2. Why does LGIT put so much emphasis on loss control?
3. Why was LGIT created?
4. How does LGIT differ from an insurance company?
5. How safe and secure is LGIT?
6. What kinds of coverage does LGIT offer?
7. Who runs LGIT?
8. What is the expiration on DDC and Flagger certifications?
9. Will my premium be increased if we open a new park/playground?