Insurable Values

Our appraisers are licensed, insured and highly trained to ensure that your property is adequately covered in the event of unforeseen disasters or damages. Edge Realty Advisors can provide a variety of services to offer the right insurable appraisal assignment to met the requirements of the coverage for your property, such as Replacement Cost estimates for Insurance Purposes.

Replacement Cost for Insurance Purposes

“The estimated cost, at current prices as of the effective date of valuation, of a substitute for the building being valued, using modern materials and current standards, design, and layout for insurance coverage purposes guaranteeing that damaged property is replaced with new property (i.e., depreciation is not deducted).”

The Dictionary of Real Estate Appraisal, 6th ed. (Chicago: Appraisal Institute, 2015).

When it comes to insuring real estate properties, having an accurate insurable value is essential. Florida insurance premiums have skyrocketed in recent years and underinsuring a property can lead to financial strain for property owners, while over-insuring can result in unnecessary premium expenses. Our appraisers step in to strike the delicate balance by providing well-informed insurable value assessments that safeguard both property owners and insurance companies.

What Appraisers Analyze

  1. Property Features: Appraisers evaluate a properties features including design, finishes, and amenities.
  2. Construction Costs: Appraisers assess the cost of materials, labor, and other expenses required to rebuild a property with similar features and specifications.
  3. Location: The geographical location of a property is a crucial determinant. Coastal areas, for instance, require additional considerations due to their vulnerability to hurricanes and flooding. Many of coastal and flood prone properties must be underwritten for Citizens Property Insurance, which requires special criteria when it comes to property valuation.
  4. Building Codes and Regulations: Florida’s stringent building codes play a pivotal role in reconstruction costs. Compliance with updated codes can impact the overall cost of rebuilding.

Our Experience

Jon A. Dawson, SRA is the owner and operator of Dawson Appraisal and our affiliate Managing Director and team leader of reserve studies and insurable values. Mr. Dawson brings 20+ years of hands-on experience where he primarily provided clients with cost reserve studies and insurable values for a variety of property types including:

  • Condominium Associations
  • Home Owner’s Associations
  • Office, Industrial, and Retail Properties
  • Golf Courses

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