WHAT IS AN INSURANCE APPRAISAL?

An insurance appraisal determines a property’s replacement costs in the event of damages to the structures and their components. An accurate insurance appraisal will prevent the association from under or over-insuring, which in turn, leads to sufficient coverage. Over-insuring will result in unnecessary coverage & higher premiums, whereas under-insuring could lead to lack of sufficient coverage should damages occur.

WHO NEEDS AN INSURANCE APPRAISAL?

Commercial buildings, including condominium associations and their common amenities, often require annual replacement costs to help secure the sufficient amount of coverage and to avoid over or under insuring. The absence of full documented and well-supported insurance appraisal could result in over or under valuing, which in turn, leads to additional premiums and/or lack of enough coverage.

WHY CHOOSE US

Certified Appraisers and Consultants has been a leading provider of Real Estate Appraisals in Southwest Florida since 1965.  Originally established in Marco Island, and currently located in Naples, our coverage area has been expanding to most of Southwest Florida market over the years. Our expertise ranges from residential appraisals for a variety of purposes to insurance/replacement cost appraisals for commercial buildings, including condominium associations and their common amenities. Further, we use only State Certified Appraisers (no trainees or associates) to inspect and complete appraisals. We also employ local cost indexes and factors in our valuations which many nationwide companies overlook.

APPRAISAL PROCEDURE

An insurance appraisal basically involves an on-site inspection of the subject building and its component, as well as a review of the construction plans and blueprints, when available. The results of the inspection are then translated into replacement costs and depreciation for different structures and their components, using up to date construction costs data from Marshall & Swift, a world renowned construction costs database.

PROPERTY MANAGERS, HOA BOARD MEMBERS, INSURANCE AGENTS

It is imperative for the association board members, property managers, and insurance providers to have an updated hazard and/or flood insurance appraisal in order to protect the unit owners against potential structure damages . It is further imperative that said appraisal is provided by individuals with considerable experience and track record in this field. Certified Appraisers and Consultants has been providing appraisals since 1965 in Southwest Florida market.