In the past, we’ve discussed how architectural details affect earthquake resistance, and how documenting those details for your insurance Statement of Values (SOV) can help you secure the right insurance coverage at the best rates. So today, we’ll talk about the other common way your building can be affected by risk — windstorm. Like [...]
by Sandra Hou, Director of Appraisal Services — West In the insurance industry, replacement cost value (often referred to simply as “replacement cost”) is one of the most common and acceptable values used to insure properties. In my line of work, we are often hired by risk pools to value their members’ properties for [...]
With wildfires blazing across much of the western U.S., and property owners fearing for their families, homes and businesses, having the right insurance coverage before disaster strikes takes on a whole new level of importance. How fire-resistive is your property? For property managers, reinsurers and risk pools, knowing your fire-resistance class and having the [...]
The age-old saying, “The bigger they are the harder they fall” is believed to have originally come from boxing. But for those of us in property risk management, it’s also a fair description of how buildings of certain structural types can react to seismic events. In fact, there are a lot of architectural and [...]
In an ideal, magical land of property risk management, budgets would be limitless and there would be full, thorough, onsite physical inspections of every property in the insurance portfolio, anytime it was needed. Every necessary detail would be expertly verified and documented down to the last roof fastener. And 100% of your total replacement [...]
by Gary Tate When you’re insuring a historic property, you’re likely to face questions you wouldn’t encounter with more modern buildings. One of the biggest of these is whether you insure the building for replacement costs or reproduction costs. But before we dive into that, first let’s talk about what constitutes a historic property. [...]
