Building Insurance Valuations
11 July 2016
Regular property insurance valuations are vital to avoid the consequences of underinsurance should the worst happen. Make sure you’re covered with our expert, independent valuations.
Incorrect valuation of property is a common problem for both residential and commercial building owners and managers. The consequences of underinsurance in particular can be extremely serious with claims not paid in full in the event of a loss, leaving you to make up the difference. Without a regular building insurance valuation, also known as a reinstatement cost assessment, the true value and the extent of any underinsurance is often not discovered until it is too late, such as when a claim is made.
The benefits of carrying out regular building insurance valuations:
- Conducting a building insurance valuation ensures that the property is 100% protected
- Allows property to be insured on ‘agreed value’ basis, no ‘averaging’
- May reduce premium rates as a result of increases in property values
- May improve borrowing facilities based upon increased asset values
- In many cases costs are borne by the leaseholders through the service charge
Find out more about our building insurance valuations here, or email firstname.lastname@example.org