Your insurance valuation needs to accurately reflect your property
Make sure your replacement insurance value fits your house, and that you’re paying the right premiums.
You also will want to know that your building costs for your new home will match the amount you are insured for.
Talk to us about what you need to do to protect you and your property in the future.
Ensure that you are covered for the full value of your home and property without paying more than you have to.
Residential Homes and Lifestyle Properties.
As a result of the Christchurch Earthquakes insurance companies have changed Residential Property Insurance Policies to bring them into line with Commercial Property Insurance. Policies issued from July 2013 onwards have moved from an open ended full replacement to and or "Total Sum" / "Agreed Value" insured maximum specified amount.
Getting a Reinstatement Valuation Assessment is Vital
Home owners need this to know their property is fully insured. They must ensure they have sufficient cover in place to re-build the asset in the event of a total loss.
This total sum insured will include:
- Re-building the main home with an equivalent new home.
- Re-building or replacing any site improvements such as drives, patios, fencing, decks, garaging, retaining walls and pools.
- Other costs, building consents, professional fees, compliance costs, any possible demolition, site clearance and removal of any debris.
Valuers Inc offers an Insurance Certificate showing a total Reinstatement cost to rebuild a home and reinstate other improvements.
We also provide inflation estimates through the insurance period, demolition/site clearance estimates and an indemnity value together and with where appropriate an assessment for functional replacement.
Tired of the high stud Villa or Bungalow? Well under functional replacement we consult with you the client an equivalent functional modern home.
The cost to rebuild will vary from property to property, ensuring that all relevant information is carefully noted to determine what the property's full replacement/reinstatement value to make sure sufficient cover is in place.
Contact us now for your Residential Insurance Certificate.