Insurance Valuations
Having the security of knowing that you are properly insured should disaster strike is the peace of mind that all Strata Owners should have.
The damaging effect of a natural disaster on your building could also have wide-ranging financial consequences if your building is underinsured therefore the need for an accurate insurance valuation is of utmost importance.
Market conditions related to increasing building costs could result in a case of underinsurance and this can then lead to financial costs for a Body Corporate.
By ensuring that you have an up-to-date Insurance Valuation you can ensure that you are comprehensively insured should disaster strike.
Phillips Safety Service engages the services of experienced quantity surveyors to make sure that the replacement cost estimation of your Body Corporate is accurate, timely and comprehensive. The process ensures that at all times you are receiving information that you can rely upon.
Your Insurance Valuation is based on the unique information applicable to your Body Corporate. It takes into account such areas as the different types and quantities of materials used in the construction, number of types of lifts, fire safety equipment and other design areas that make up your building.
The report takes into account not only the cost of replacing your building but also such other costs as demolition, consultancy fees, Council and other regulatory charges and landscaping.