Inflated insurable property values can cause a business to pay excessive insurance premiums, while having inadequate insurance can be disastrous if a loss occurs. Accurate insurable property values facilitate appropriate allocation of insurance premiums and can serve as a basis if proof-of-loss documentation is required.
Duff & Phelps provides insurance valuation services to clients in virtually all private and public sectors around the world. We inspect and appraise more than 30,000 buildings annually. Our structured property insurance appraisal programs enable our clients to:
- Determine the adequacy of property insurance coverage
- Improve risk management practices
- Improve marketability to underwriters
- Develop a basis for the equitable allocation of premiums
- Avoid surprises at the time of loss
Our full-scope property insurance appraisal provides the most comprehensive data and involves on-site inspection of each building, capture of building measurements and primary and secondary COPE data, and more. We then prepare detailed statements of insurable values and building inspection and appraisal reports. In addition, eRISK, our secure web-based reporting system, allows clients to access, manage, and share their insurable values data wherever internet access is provided.