Duff & Phelps Provides Real and Personal Property Insurance Valuation Services to Clients Worldwide
Insurers, brokers and underwriters rely on accurate property data for risk management purposes. Inflated insurable property values can result in payment of excessive insurance premiums, while inadequate insurance coverage can be disastrous in the event of a loss. Our experience in providing current replacement costs across varied industries, based on our internal global database overlaid with our local knowledge, helps our clients, advisors and insurance brokers effectively estimate the optimal sum insured. Our rigorous site inspection ensures robust data collection, which results in effective replacement cost estimates, therefore resulting in appropriate insurance coverage.
Duff & Phelps serves all private and public sector clients and employs one of the world's largest teams of building and equipment valuation specialists. Our professionals work closely with clients to provide structured property insurance appraisal programs that satisfy specific needs.
With over 120 years of experience, we have expertise in all classifications of real and personal property valuation. Each year, we inspect and appraise more than 30,000 buildings.
Our property insurance services include:
- Building Insurance Appraisal and Inspection (buildings, historic properties, utilities, site improvements and property in the open)
- Equipment/Personal Property Insurance Appraisal (all types of machinery and equipment from small workshop to very large manufacturing facilities)
- Our services include valuation of property, plant, machinery and equipment
- Pilot studies, including review of the insured sums across the insured portfolio
- Updates of the value of insured assets annually, following an initial full valuation
- Provision of reinstatement cost
- Building inspection and valuation services
- Support for global insurance programs
Site Inspection During COVID-19
Due to travel and meeting restrictions, physical inspection of the facility is challenging. To overcome this challenge, we are conducting a “Virtual Site Inspection” through a secure mobile videoconferencing tool. This method of inspection is similar to a full appraisal study and, in most circumstances, helps our clients meet the site visit requirement.