AssetWorks-Property Insurance Appraisals Solution Sheet
Property Insurance Appraisals
Managing the risk of property exposure requires values that are both current and accurate. With our proven expertise, AssetWorks is uniquely qualified to provide property appraisals that achieve accurate insurance placement and act as a benchmark for proof-of- loss substantiation in the event of a catastrophe. Our combination of valuation consultants and state-of-the-art technology offers innovative, customized and cost effective services for initial and long-term solutions associated with property insurance and risk management. AssetWorks’ insurance appraisal services include:
- Valuation of buildings for replacement and reproduction costs
- Certified appraisal reports
- Capital asset inventory appraisals
- Valuation of insurable land improvements/property-in-the-open
- Customized risk pool appraisal programs
- Perpetuation of insurable values
- Underwriting /C.O.P.E. data collection
- Onsite hazard reporting
- Values variance reporting
- Integrated site plans
There is NO Substitute for a Physical Inspection
Insurance companies and underwriters are becoming more selective in the values they will accept. Desktop appraisal methods and multiple years of value trending depend solely on the accuracy and completeness of the data provided at the time a structure is added to the statement of values. These methods can potentially result in inconsistent values and/or the exclusion of structures that exist but are not listed on the current statement of values.
Certified Appraisal Reports
AssetWorks provides all certified building appraisal reports in both hard copy and electronic formats. Our appraisal reports include:
- Certification Letter
- Insurance Summary Report
- Insurance Detail Report – includes a digital photo and detailed information on a per building basis.
- Values Comparison Report – illustrates the variance in the values established as a result of the appraisal versus the replacement cost values on the current statement of values prior to AssetWorks conducting the appraisal.
- Electronic Data File – provided in Microsoft Excel format that includes all building features, COPE data, and values that are displayed on our building detail report. The data is provided in a format that can be sorted, edited and formatted to populate our client’s property and risk management systems.
Underwriting/C.O.P.E. (Construction, Occupancy, Protection, Exposure) Data
Data modeling continues to be a major influence on the pricing of property insurance and reinsurance. AssetWorks collects and provides the building characteristics utilized for catastrophe modeling. These characteristics include:
- Primary COPE Data
- Secondary COPE Data
- Earthquake Exposure
- Wind Exposure
- Building Upgrades (LEED Certification)
Innovative Solutions, Accurate Valuations