An insurance appraisal is a replacement cost analysis which provides an accurate estimate of the amount of insurance required to replace each structure and/or amenity exactly as it stands on the day the report was prepared. These values are provided to assist the client in determining the amount of insurance needed for each structure and/or amenity for which the property insures. Sedgwick, Valuation Services Division's appraisers calculate each building's reproduction cost on a component-by-component basis from the ground up. Our software processes the complex calculations needed to correctly estimate the labor and material costs for each building component. Our software also calculates the taxes, fees, overhead and profit to provide an accurate estimate of what it would cost to reproduce the structure as it stands on the day the report was issued.
Most property owners, managers, boards and/or insurance agents believe that obtaining an insurance appraisal for their property is one of the best decisions they have ever made. The reasons for this are simple:
All digital photographs taken at the time of the physical inspection are electronically archived for the clients use in the event of a loss.