FEC INSURANCE AGENCY
FEC’s should have adequate property coverage
Family Entertainment Center’s should have adequate property coverages and limits for them to rebuild with the same quality and design elements, attractions, and specialty theming that allows the business to operate at the same level or better than before the loss occurred. This also includes the loss revenue and sales, payroll expenses, and other non-ordinary costs of getting reopened.
Property insurance, does not automatically provide coverage for everything just because you have Building and Contents coverage listed on the policy. Remember it is too late to go back and fix even the simplest little thing on the policy after a loss has occurred.
Your insurance policies may penalize you and not pay for 100% of your loss if you are undervalued and your limits are too low. You, the insured, are ultimately responsible for determining the values and limits of your property coverages. This is called COINSURANCE and can apply to all coverage items on the property policy.