Why Is an Insurance Appraisal Needed?
Insurance premiums are likely one of the largest line items in your budget. Since insurance premiums are costly, it's in the best interest of the association to have an up-to-date insurance appraisal to definitively establish an appropriate insurance amount. It's important to know that the insured value of a property fluctuates since replacement costs change from year to year, based on current rates for local labor and materials.
In addition, in the case of a partial or total loss, an insurance appraisal from Reserve Advisors provides detailed property information the insurance company can use to facilitate a claim more quickly because we include documentation for proof-of-loss.