Author:  Gary Maehl, ASA When purchasing casualty insurance (fire, wind, flood) the insured is required to state a face value for the policy.  Many insurers will require this value to be the “full current replacement cost new value”.  What this means is you must insure a building for the cost of replacing it with a new building at the present […]

  WHAT IS AN INSURABLE VALUE APPRAISAL?   An estimate of the current construction replacement cost of your building(s) and other improvements for insurance purposes.   DO I NEED AN INSURABLE VALUE APPRAISAL?   The State of Florida requires condominium associations to have an independent valuation appraisal every three years.  Even without a legal requirement, it is good business practice […]