Why Choose IV360 For An Insurance Appraisal?
Experience The IV360 Difference
At IV360, we understand the critical importance of accurate insurance appraisals. With our expertise in cutting-edge technologies such as LIDAR scanning/measuring and 360 virtual tours, we offer unparalleled services that go beyond traditional methods. Our goal is to provide our clients with a reliable insurance appraisal to assist in procuring an appropriate amount of insurance coverage. We use Marshall and Swift Commercial, Agricultural and Residential Cost Valuation software, the gold standard in the construction cost industry for over 80 years, to provide detailed cost reports. Our reports include both the replacement cost and the depreciated cost or actual cash value. These values will aid in determining the insurance to value. Insurance to value (ITV) represents how a building’s coverage amount compares to the cost of replacing the building. Therefore, insuring a building for any amount less than the full replacement cost (100% ITV) indicates the building is underinsured in the event of a total loss.
An insurance appraisal or replacement cost valuation provides for the replacement cost of the building or structures, using similar materials at current prices. With respect to an HOA or Condominium association, this applies to clubhouses, pools, etc. and is necessary to underwrite the proper amount of coverage. The appraisal document aids in the prevention of either under insuring or over insuring the building, therefore reducing risk and unnecessary premiums. Our valuations are independent, unbiased and appropriately supported. The valuation may be used to determine the proper amount of insurance needed or to determine the association’s budget and replacement reserves, thereby avoiding special assessments.
Some states require condominium associations to obtain a replacement cost valuation every 2-3 years. Nevertheless, it is good practice to get an insurance apprasial done once a year, especially during times of inflationary rises, which affect construction costs, including materials and labor.
Insurance Appraisal Types Offered
Multi Family Appraisals
Condominium Complex Appraisals
Structures of Worship Appraisals
Industrial & Farm Appraisals
Leading The Industry With Our Tech
We leverage the power of LIDAR scanning/measuring technology to capture precise and detailed two-dimensional data of properties. This advanced scanning method allows us to create highly accurate digital representations of structures, capturing even the smallest details. With LIDAR, our clients will have comprehensive documentation of the property, showing the accurate number of square feet of the building or buildings
Our 360 virtual tours provide a captivating and immersive experience for our clients. Through our state-of-the-art equipment, we create virtual tours that allow clients to explore the property remotely. These tours offer a comprehensive view of the property's interior and exterior, enabling efficient and accurate assessments without the need for physical visits. Insurers can navigate through each room, examine details, and make informed decisions based on the immersive virtual experience.