Insurance Valuations
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QBM is a building inspection and reporting company dedicated to providing professional, quality, value for money service. QBM pride themselves on assisting Body Corporate Managers and Committees to save valuable time and money with their wide range of services and free phone advised information. While many companies tend to focus on the bottom line, QBM focus is on their clients and their needs. |
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"Don't leave it until your making a claim to find out whether you're adequately insured - talk to QBM now." Today there is an even greater array of unexpected risks facing organizations, from fires and natural disasters to terrorism and other man made hazards. That's why it's imperative that all complexes are properly covered. Failure to do so can turn an unfortunate incident into the event that leaves the owners with out of pocket expenses to meet. Here's how regular insurance valuations with QBM can benefit you.
"Our insurance Valuations ensure that your building is insured for the full amount it would take to replace the building nothing less." What is an Insurance Valuation?It is a valuation of a Building or complex for replacement purposes and specifically relates to the reconstruction of a building or complex due to the occurrence of an insurable event, for example a fire. Replacement value involves the reconstruction of a building in conformance with current regulations. Does this insurance Valuation include the value of the land?No, the purpose of the valuation is to replace the improvements on the Strata Scheme Land - it is presupposed that the land will be substantially intact after an insurable event. Elements used in the Calculated Value of the Building ReplacementThe calculated value of the building comprises of several elements:
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