How are Insurance Valuations Calculated?
Making sure that your property is sufficiently insured can make all the difference when your property is unexpectedly damaged.
Keeping an updated insurance valuation results in a much easier time receiving fair compensation from your insurance provider and avoiding penalty fees.
When your home or property has faced catastrophic damage, the costs of your valuation should include reasonable compensation for demolition, reconstruction, surveyor, architect and contractor fees.
Rebuild costs should also consider miscellaneous fees such as Value Added Tax (VAT).