Do You Have The Right Replacement Value ?

Are your assets insured for the right replacement cost ?

If not, then you need an updated insurance valuation so that you don’t get caught short after an unexpected event or loss.

Building costs have skyrocketed over the last 5-10 years causing a massive underinsured value for most businesses and property owners we come across. Generally we have found property is insured for 50-75% of it’s current replacement cost. Meaning you have to pay the remaining 25-50% in the event of a loss.

Market value rarely equals insurance value (replacement cost almost always is more than what you paid for an asset) and failure to insure your assets for the right amount of money could lead to paying for the replacement of the assets yourself. Statistics show that only 29% of business survive after a partial loss.

Why You Need An Insurance Valuation ?

• To determine the right amount of insurance cover required in case of loss or damage.
• If you have never engaged a valuer to complete an insurance valuation
• If it is more than two years since your last insurance valuation
• Your assets register has changed through purchase or sale of assets.
• You require an insurance risk assessment
• Legislation for Strata and community title property

See our latest report on the increasing costs of insurance valuations here.

What We Provide Insurance Valuations For

• Property
• Plant and Equipment
• Personal assets

This situation can be avoided by hiring a qualified insurance valuer from the Valuator team. Call us today on 1300 716 595.