Insurance Appraisals

What Is an Insurance Appraisal?

An insurance appraisal is a replacement cost analysis which provides an accurate estimate of the amount of insurance required to replace the insured property as of the date of the valuation. This estimate is updated annually on the anniversary date of the policy. The appraisal provides both a hazard and flood insurable value. Our appraisers calculate each building’s replacement cost using nationally recognized replacement cost software. These costs are constantly updated to correctly estimate the labor and material costs for each building and amenity or recreation facility. The taxes, architectural fees, overhead and profit are included in order to provide an accurate estimate of what it would cost to replace the structure today.

Why Get an Insurance Appraisal?

Historically, insurance coverage was provided by an estimate provided by the insured and the agent working together. Although both parties gave their best effort, frequently the wrong coverage amount was written. After Hurricane Andrew, guaranteed replacement policies became a thing of the past. An informal process of valuation evolved. In the last few years, with the frequency of catastrophic storms, it became obvious that these efforts were lacking. Now most companies are seeking an unbiased third party opinion with expertise and experience in valuing properties. A correct appraisal will insure adequate coverage while also seeking to keep the client from overpaying premiums.

Who Needs an Insurance Appraisal?

  • Property Owners
  • Managers
  • Condominium
  • Associations
  • Homeowners
  • Associations
  • Master Associations
  • Office Buildings
  • Shopping Centers
  • Hotels
  • Motels
  • Insurance Agents
  • Lenders

Get an Online Insurance Appraisal Quote

Fill out and submit this online questionnaire with as much information as possible. We will get back to you within 24 working hours, and we will discuss the full scope of work required at that time.

Request a Quote

Your Information

Contact Name

Property Address

Name of Property

Property Information

Type of Property
# of Units
# of Floors
# of Buildings
Other Buildings

Are Any of the Following Available?

(Select All that Apply)

Condo Docs
Previous Appraisal

Insurance Agent Information

Agency Name

In Florida it is mandatory for certain properties. An insurance appraisal assists in obtaining the proper coverage by providing documentation (the appraisal) that underwriters need to write the correct coverage. Obtaining an insurance appraisal prevents under-insuring, which puts the property at risk for being in a co-insurance position in the event of a catastrophic loss, or over-insuring, which results in paying extra insurance premiums. An insurance appraisal provides a third party, unbiased valuation of the property’s replacement cost.