Insurable value essentially enables you to validate that you are sufficiently covered by your insurance policy in the event of total or partial loss. It is used to calculate the indemnity to which you are entitled.
The insurable value must reflect the sum required to restore a building to its prior state in the event of major loss.
Thus, the value sought must cover the cost of rebuilding plus costs related to clearing the site, while taking into account possible limits on reconstruction. In fact, it may prove difficult to reconstruct a building after damage or loss, given the type of construction (e.g. row-type or semi-detached houses) and limited access to the property. The cost calculation may, therefore, include an additional premium for reconstruction constraints. At HPDG, our insurable value appraisal also includes potential costs for clearing the site prior to rebuilding.
HPDG draws on the expertise of appraisers specialized in assessing the replacement cost for all types of buildings. Our know-how developed by our insurable values division and recognized in the insurance sector, is the appropriate product for individuals who want to obtain insurance based on a reliable value that represents not only the replacement cost of the building, but also indirect costs related to reconstruction.
Our appraisal report includes a detailed description (by component) of your property, with supporting photographs and a detailed calculation of building construction costs. In the event of a loss, this report provides you with prompt access and unequivocal evidence of the full list of your property’s components and characteristics prior to the loss, for the problem-free settlement of insurance claims.
This appraisal report is produced following an inspection of your property and a technical analysis providing a quantitative and qualitative determination of the materials used and how they are assembled.