ACP Quantity Surveyors can prepare Insurance Replacement Valuations that ensure that the sum a building is insured for is adequate at all times to replace the building.
Our Replacement Property Valuations offer our clients “peace of mind”.
Insurance Valuations for Your Property
An insurance valuation report is essential to safeguard your property and finances and is a requirement under Regulation 39 of the Strata Management Regulation 2016 and Section 85 of the NSW Strata Schemes Management Act 2015 No 50. It provides an accurate assessment of your building’s replacement cost in the event of an unsalvagable loss, ensuring that you are not under-insured or overpaying on insurance premiums. ACP Quantity Surveyors delivers comprehensive reports tailored to your property’s specific needs, ensuring peace of mind.
Why Get an Insurance Valuation Report?
Obtaining an insurance valuation report is a proactive step in protecting your property. It ensures that your building is insured for its true replacement value, which means you’re fully covered if disaster strikes.
Additionally, a precise valuation prevents over-insurance, saving you from unnecessary expenses on inflated premiums. This balance is key to maintaining the financial health of your property investment.
What’s Included in Your Insurance Valuation Report?
An insurance valuation report from ACP Quantity Surveyors is thorough, addressing all factors that could impact the reconstruction of your property. It begins with a detailed estimate of the construction costs required to rebuild your property to its original state. The report also accounts for demolition costs, which include the safe removal and disposal of debris from a damaged structure.
To future-proof the valuation, we include an allowance for cost escalation, anticipating potential increases in construction costs over time. Professional fees for architects, engineers, and other necessary consultants are also factored in. Lastly, we assess the re-construction time, considering possible delays and the time required to restore your property fully.
Factors That Influence Your Report
Several elements can influence the outcome of your insurance valuation report. The age and size of the property play a significant role, as older or larger buildings may require different considerations in reconstruction.
The location of the property is another critical factor, with geographic risks such as flood zones or bushfire-prone areas potentially increasing the insurance needs. Additionally, any recent developments or improvements to your property, such as extensions or significant renovations, will be reflected in the valuation, ensuring that your insurance coverage is current and accurate.
Why Choose ACP Quantity Surveyors?
Choosing ACP Quantity Surveyors for your insurance valuation needs means partnering with a team that brings over 30 years of industry experience to every project. Our expertise spans properties of all sizes, from small residential homes to large commercial complexes.
We operate nationwide, offering consistent, reliable service across Australia. Our deep understanding of local markets and construction costs ensures that your valuation is precise and reflective of current conditions, providing you with the best possible protection.
Don’t leave your property’s protection to chance. Give us a call on 1300 550 311 today and arrange for a comprehensive insurance valuation report. Safeguard your investment with our expert services and enjoy the confidence that comes with knowing your property is fully covered.