Insurance Replacement Valuation

Insurance replacement valuations, unlike current market valuations determine the replacement value of your property in the case of an event/loss.

Property insurance is based on the concept of Indemnity Value defined as “The cost necessary to replace, repair and or rebuild the asset insured to a condition and extent substantially equal to but not better or more extensive than its condition and extent at the time that the damage occurred, taking into consideration the age, condition and remaining useful life of the asset.”

The insurer will, at the time of the claim, assess if you are adequately insured for the replacement costs/losses arsing from the event. This is generally known as the Co-Insurance test.

Co-insurance clauses in the policy provide that, if at the time of the loss the value of the property insured exceeds the amount of cover, the insured is considered to be self-insuring for the difference in value and therefore bears a rateable proportion of any loss (including a partial loss).

In effect, this means that the insurance companies will only payout a proportion of the claim if they find that you are underinsured.

Accord Appraisals will provide an accurate Insurance replacement valuation, ensuring that you are adequately insured thereby avoiding the risk of underinsurance and co-insurance clause triggering should a loss event occur, or conversely, unnecessary over insurance cost.


Leave A Message..

 
Name*
Email*
Phone No*
Comment
We’re trying to avoid spam*
 
 
Why choose Accord Appraisals
Boutique firm
Specialist valuers with local experience
High quality reports
Professional and ethical approach
Direct access to the valuer for discussions
Prompt service with regular updates and time bound delivery schedule
Absolute client confidentiality
What our clients say

7 Star Professional and Expert Valuation Service offered by the Director which outclass others in Industry.Affordable and Quality of Service.Highly Recommended

Manpreet Sabharwal

I was extremely happy with the service. Hemal was very professional and went over and above for me. I was due to go overseas 2 days after he was able to look at my property. I required the appraisal for a family law matter which had been incredibly stressful leading up to my trip. He was able to complete my report and send it to me prior to my departure which gave me so much peace of mind. I highly recommend Accord Appraisals. Professional, efficient and competitive pricing.

Joey Dubois

Very detailed, efficient and prompt service by Hemal and his team of valuers. Been utilising Accord Appraisals since 2013 and they always strive to deliver the best for their clients. Highly recommended !!

Thomas Mathew

Outstanding customer service! Hemal was prompt, efficient and also very open and informative about the valuation process. Highly recommended !

David 7

Professional and prompt in responding to my enquiry. Punctual and efficient with property viewing. Exceeded expectations with very quick turn around on report. Thanks for your assistance.

Roslyn Wright

I have dealt with Hemal regarding two properties now and have found him to be approachable, straight-forward and knowledgeable in his field. He was able to explain property valuation in lay person's terms and was generous with his time in discussing the details of his research and what calculations he used to arrive at his opinion. His fees are reasonable for his expertise. It is a pleasure dealing with a small firm where you can have a more human relationship directly with the person who is providing a professional service. Thanks Hemal. We will not hesitate to engage you in the future if need be, or recommend to others.

Marissa Johnpillai

Accord Appraisals came to me recommended by a law firm and I was very grateful because the appraisal was timely and all my questions were answered in the process. Very happy to have dealt with Hemal, approachable and informative, and I will be recommending him.

Vesna Jovanoski

BLOWN AWAY !! Don't use anybody else !! This is the first feedback rating I've ever left on the internet because I am so impressed with the service I received today and feel that this company deserves feedback for their hard work. I have never previously used a property valuer and I have no affiliation with this company. In sum, last night I submitted around 6 quote requests to various certified property valuers across Melbourne. I have a block of land in Murrumbeena with a council planning permit to build 2 x 2 storey townhouses so I needed a valuation for CGT. I started receiving responses early this morning and found most of the valuers made the task extremely complicated, and were overpriced. Then Hemal from Accord Appraisals telephoned me and he was truly a breath of fresh air. From start to finish he made the process incredibly easy for me. In less than 24 hours of making my initial e-mail quote request, Hemal contacted me, attended my house where he conducted a site analysis, and then provided me with a very detailed 11 page report on my property. This was all at a very reasonable price and exceeds ATO requirements. I thought the report would take at least a couple of weeks, but it took less than a few hours to arrive in my inbox !! I wish all things in life were this simple !! I'd like to thank Accord Appraisals, in particular Hemal, whom I found to be very kind, knowledgeable, and a true professional. In sum, I can't rate this guy high enough for his incredible lightning fast A1 service !! Thanks again Accord Appraisals I will refer you to my friends, family and anyone else who mentions they need a professional certified practising valuer !!!

PlanAhead Building Design

Thanks to the team at Accord for being so thorough on a recent valuation and a prompt turnaround.

Johann Kurzbock

Swift and efficient service, even provided me with after hours service and. Got my report the next day. Price is good as well compared to some others that I quoted.

Jh S

Very happy with the service. Very through, quick response, indepth report. Thanks Hemal

Mitesh Patel

Very helpfull, turned up when they said they would, did a good job and at a reasonable price. Would reccomend.

David Turner

Very timely and professional services

Jaswinder Sidhu