Appraisal Services – Insurance Appraisal
A-Teck Appraisals provides insurance appraisals for industrial, commercial, multi-family, and strata buildings/complexes to assist you in determining the replacement value of your property.
What Does an Insurance Appraisal Include?
The main purpose of an insurance appraisal is to ensure that the entire property, including materials, labour, professional fees, overhead, developer/contractor’s profit, etc., are adjusted to reflect the current building costs. This ensures your property is adequately insured.
What Is Included in an Insurance Appraisal?
Insurance appraisals include a complete description of the building(s), exterior and interior photographs, building diagrams, and an itemized cost breakdown of any other improvements located on the subject property, such as fencing, paving, garages/carports, etc. The quality of interior, exterior, and basement finishes; and the number of bathrooms, fireplaces, and balconies are examples of some of the items taken into account during the appraisal.
Why Are Insurance Appraisals Needed?
Construction costs have increased in recent years, especially in areas experiencing chronic labour shortages. Rising costs can result in your property being underinsured. This is especially true in in areas that are experiencing labour shortages. This could result in your property being under insured. Ensure your property is properly insured and give us a call to order your insurance appraisal today.