Get an accurate assessment of the replacement cost of your asset
Flash floods, freak hail storms, devastating bushfires and tenants from hell; Australia’s residential and commercial properties take a real battering.
Often arising without warning, these unforeseen circumstances mean many property owners and investors are left out in the cold and out of pocket, faced with the significant financial burden of an underinsured or uninsured residential or commercial property.
Why do so many property owners fail to protect their most valued assets?
For the majority, it is simply a case of not knowing what to insure their property for. Many property owners commonly use the purchase price and recent sales evidence as a guide to the necessary insurable amount for a real estate asset, however, the cost of replacing an asset can be far greater than the purchase price, resulting in insufficient coverage and in instances of overestimation, unnecessarily high premiums.
"An accurate assessment of the replacement value of an asset will protect property owners in the event of disaster." Greville Pabst - Chief Executive Officer, WBP Property
A professional certified practicing valuer can provide a GST inclusive valuation as a guide to new for old replacement based on estimated building costs, taking into account removal of debris and, for investors, loss of rental income. Having the right insurance for your property will ensure that your asset and lifestyle are secure in the event of disaster.
For a quote on the cost of obtaining a certified insurance valuation contact WBP Property Group on 1300 302 581 or complete an online quote request.