Building rate

{
  "id": "MLC-T-INS-000633",
  "term": "Building rate",
  "field": "Insurance and risk management",
  "definition": "The price per unit of insurance coverage used to calculate the premium for insuring a specific building against property damage. This rate is determined by factors such as the building's construction type, occupancy, fire protection systems, and location in a specific geographic territory. The final premium is calculated by multiplying this rate by the building's insured value, expressed in hundreds or thousands of dollars.",
  "subject": "Commercial Property",
  "url": "https://mlchart.com/terminology/insurance/building-rate/"
}