Don’t leave your property under insured.

When it comes to insuring property there are many factors that need to be considered to confirm a property is adequately insured for all replacement costs, in the event of total loss.

Being underinsured can cost significantly. Don’t leave yourself exposed to risk by using an insurance appraisal based on assumptions.

The experts at Acumentis are up-to-date with current building codes, insurance clauses and today’s ever-increasing building costs. They offer insurance valuations of all property types and will provide an accurate and a comprehensive breakdown of the full amount it would cost to replace a property.

An accurate replacement cost estimate allows you to take out adequate coverage and ensure you are paying the correct insurance premium.

When insurance matters

To complement our valuation process, we also provide non-valuation services to address specific asset needs. These include at least:

  • You have never engaged a qualified valuer to assess your declared value for insurance.
  • You are reviewing your business interruption cover.
  • It has been more than two years since your last independent insurance valuation.
  • Your asset-base has changed through acquisition or downsizing.
  • You are undertaking an insurance risk assessment.
  • You are looking to get a building valuation for insurance purposes.
  • Mediation
  • Compulsory acquisition and resumption valuations
  • Portfolio services

 

Types of insurance valuations

At Acumentis, we offer three different types of insurance valuations, dependent on what coverage and service you require.

Extensive valuation

These insurance valuations are necessary if inadequate levels of sums insured have been detected or suspected. In addition to this, an extensive valuation is necessary if there has been a significant time gap since the last valuation. Our extensive valuations are offered to all property types. We assist you to understand building replacement costs, reinstatement values, property, and asset insurance coverage.

Insurance review

An insurance review simply checks all of your assets are adequately covered by your current insurance company. Acumentis recommends you undertake insurance valuation reviews whenever your business undergoes a significant change. This may be to its asset base or if it has recently gone through other major changes.

Desktop revaluation

The Acumentis revaluation services are offered as part of a longer-term insurance valuation program. Your insurance valuation expert provides essential advice and re-evaluation of insurance to confirm you have adequate coverage. At Acumentis, we advise all our clients to undergo regular insurance valuations of their property as well as plant and equipment assets.

Additional insurance services

To complement our valuation process, we also provide non-valuation services to address specific asset needs. These include at least:

  • Effective life reviews – a comprehensive review of a depreciating asset’s life, especially if it is subject to wear and tear.
  • Asset register reconciliation and reconstruction services.
  • Asset tagging and location audits.
  • Project management of large valuation assignments.

Contact your local Acumentis office to learn how these property and building insurance valuation services will help your business.

Insurance Valuation FAQ's

It is a valuation of property for the purpose of replacement due to an insurable event such as a fire or natural disaster. An Acumentis valuation will make sure your building is insured for the full amount it would cost to replace, not just the replacement construction cost. Our experts will ensure all elements of replacement including building costs, escalation, demolition / removal of debris, re-design fees and application fees are all considered and conform with current regulations. The value of land is not included in an Insurance Valuation as it is presumed that the land will still be intact after the insurable event.

- Engaging an expert will ensure accuracy and remove assumptions often used in market appraisals that could leave you under insured.

- To ensure adequate coverage so in the event of a claim, owners are not left with substantial out of pocket expenses.

- Appropriate coverage will reduce the likelihood of paying unnecessarily high premiums.

- Appropriate coverage is required to comply with regulatory requirements.