Insurance premiums represent a significant portion of your operating budget.  Thus, it is prudent to have your property evaluated by an independent appraiser.  An independent appraiser can prevent under coverage of property or over payment of premiums due to an over insured property.

Advantages of an Armstrong Consulting Insurance Appraisal:

• Experienced appraisers provide professional, accurate replacement cost estimates
• Provides documentation to support association claims in the event of a loss
• Fulfills board members’ fiduciary responsibility by protecting their investment with a third party expert analysis

Armstrong Consulting Insurance Appraisals Include:

• An on-site quantification and analysis of building and site improvements and utilization of construction blueprints (when available)
• A comprehensive report including detailed descriptions and photographs documenting the improvements
• Clear definitions of values, methodology in obtaining values, and statements describing purpose of appraisal
• Valuation of improvements for insurance including Replacement Cost New, Cost of Insurance Exclusions
• Replacement Cost New Less Exclusions, Depreciation and Depreciated Cost of improvements
• A separate valuation of improvements for Hazard and Flood insurable coverage where applicable

Updating Your Armstrong Consulting Insurance Appraisal:
Insurance appraisals provide the replacement costs of a property at a particular point in time.  Over time, inflation to material and labor costs in specific locations changes at different rates.  Consistent annual increases to property values may not be adequate for some communities.  Thus, it is prudent for communities to have their property values updated on a consistent basis to ensure that they are fully protected.  The cost of updating an insurance appraisal is significantly less than the initial appraisal because information can be updated internally without site visits.