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Insurance Appraisals: providing peace of mind with independent insurance advice

What is an Insurance Appraisal?

An insurance appraisal is an independent analysis which establishes a cost to reproduce or replace a community’s insurable buildings and structures. The insurance appraisal includes an on-site evaluation conducted by an ASA designated appraiser. Each construction component and building feature is identified and valued independently. The insurance appraisal report certifies the opinion of insurance to value.

A current insurance appraisal helps associations avoid paying too much in insurance premiums. It can also eliminate the mistake of inadvertently self-insuring by having too little insurance. When an association is underinsured, property owners run the risk of paying a portion of the rebuilding costs in the event of a loss.

Components of an Insurance Appraisal

Insurance Appraisal Report that presents the total cost of reproduction,
less exclusions, for each insurable building and structure.

Building Evaluation Report outlining supplemental underwriting data.

Insurance Detail Report outlining specific construction materials and
photo documentation of each building and structure.

Insurance Appraisal Sample Report
I am grateful for this reserve study and the detail that the engineer you sent out gave to the matter. The study has allowed us to illuminate all of the details that everyone has been missing regarding the expenses of the association and their responsibilities.
Robert Hitchcock, Community Manager
Olde Town Grayson Home Owners' Association, Inc. • Grayson, GA

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