The Total Insurable Value (commonly called TIV) is the total you want covered on the policy! Simply add together the value of your Business Personal Property and your Business Income & Expenses amounts.
Example:
Betty's Barre Studio owns $35,000 in business personal property (mirrors, barre, flooring & audio equipment used for classes) and her monthly business income & expenses are around $15,000 (rent, income, payroll). Betty will want to plan for the following coverage amount:
| 3 months of business income & expenses: | $45,000 | |
| Business personal property: | + | $35,000 |
| Total Coverage Needed: | $80,000 |
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