02 May Not sure about your Building Sum Insured?
Not sure about your Building Sum Insured?
We often discuss the importance of having the correct Building Sum Insured on your insurance policy, and understand that obtaining a professional valuation every year may not be feasible.
Determining the level of insurance required for a property can be difficult, as the estimate should be for the cost to rebuild to current standards and should allow for inflation.
This is where CRM Brokers can provide its clients with accurate estimates for replacement costs of commercial and residential properties; powered by CoreLogic.
CoreLogic’s deeply-researched construction cost data contains the most up-to-date prices for building materials, labour, and project timeframes, providing the ability to generate a real-time commercial building replacement cost estimate to reduce the risk of underinsurance.
If you are unsure about your building sums insured or it is time to review your cover limits, please feel free to contact CRM Brokers on 1300 880 494.
About Core Logic
CoreLogic is the leading property data, information, analytics and services provider in Australia and New Zealand with growing partnerships throughout Asia.
With Australia’s most comprehensive property databases, the company’s combined data offering is derived from public, contributory and proprietary sources and includes over 500 million decision points spanning over three decades of collection, providing detailed coverage of property and other encumbrances such as tenancy, location, hazard risk and related performance information.
DISCLAIMER: The Cordell Commercial Estimator calculator takes the answers you input and analyses them against construction industry data collated by CoreLogic to generate an estimated rebuild cost of the improvements for the subject commercial property. Use of the Cordell Commercial Estimator calculator and any estimated rebuild cost provided by it may not be appropriate for you and you will need to assess the suitability of this estimate given your knowledge of the subject commercial property. Whilst CoreLogic uses commercially reasonable efforts to ensure the estimated rebuild cost is current, CoreLogic does not warrant the accuracy, currency or completeness of the estimated rebuild cost and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the estimated rebuild cost. The estimated rebuild cost is a general estimate and must not be relied upon as a professional valuation. Please check with an Architect, Builder, Quantity Surveyor, Valuer or other suitably qualified professional for an accurate estimate.
This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.
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