Property Insurance Appraisal Updating Services

Once an organization invests in a structured property insurance appraisal program, annual updates offer a cost-effective way to maintain the integrity of insurable value data. Our professionals apply standard construction cost trend factors to appraised building valuations on an annual basis, which:

• Assume static construction practices

• Do not consider modifications to the original structure

• Remain accurate for approximately five to seven years

In addition, we update appraised personal property values using industry-accepted cost trend sources, including:

• Marshall Valuation Service

• FM Global's Industrial Cost Trends

• The Bureau of Labor Statistics of the U.S. Department of Labor, Producer Price Index

• Handy-Whitman Index of Public Utility Construction Costs

Finally, we account for capital acquisitions and retirements through:

• An on-site visit from one of our professionals
• Application of client-supplied current-year capital asset activity (additions, disposals and retirements)