Property Valuations Registered Property Valuers

Insurance Valuations

Insurance companies have recently moved to a ‘sum insured’ basis for replacement cover on residential properties.  This means instead of your home insurance covering you for an unspecified “replacement cost”, when your policy next renews you will be required to specify the maximum value to which you are insured.  Its vital that home owners get this right.

This change requires the home owner to determine the appropriate insurance cover for their property.

The amount of cover will need to be sufficient to re-build the asset in the event of a total loss and will need to include:

  1. The cost of re-building the home with an equivalent new home
  2. The cost to re-build any other buildings on the site
  3. The cost to replace/re-build any other site improvements such as fencing, driveways, pools, decks etc
  4. Allowances for demolition costs, debris removal and site clearance
  5. Professional fees (architects, engineers etc)
  6. Inflation increases until the rebuild is complete.

A valuation from a registered valuer will be specific to your property and remove the guesswork and risk out of the calculation.

Contact Mount Valuation for Insurance Valuations Papamoa, Mount Maunganui, Te Puke, Tauranga