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Importance of Insurance Valuations

The Importance of Professional Insurance Valuations

When preparing for your annual buildings insurance renewal, your insurer will need documentation verifying that your coverage amounts accurately reflect the replacement value of your property. To provide this, they will ask for records of your property’s last insurance valuation. Not having a recent valuation performed increases the risk of being either underinsured or overinsured.

An insurance valuation provides an expert assessment of your home’s rebuild cost in the event it is partially or fully destroyed. This rebuild cost accounts for current construction materials and labor rates. Without a recent valuation on file, coverage limits may not have kept pace with rising rebuild expenses over time. Being underinsured could leave you responsible for costs after a claim.

Conversely, overinsuring your property is also undesirable as it results in paying higher premiums than necessary each year. We provide insurance valuation services to help clients obtain proper coverage for their needs. For most residential properties, we can arrange for a qualified field appraiser to visit your home and perform an in-depth valuation. In some cases where a physical inspection is not required, we offer desktop valuations using aerial photos and public property records.

Contact us today to discuss arranging an insurance valuation for your property ahead of your next renewal. Having a current valuation on file ensures your coverage is appropriate and helps avoid unwanted gaps in protection.

For a free consultation and quote on our valuation services in West Yorkshire, please contact our Leeds office at 32 Park Cross Street or call 0113 222 4537. You can also email Our representatives will be pleased to discuss your coverage needs and objectives.