In a nutshell...
Legally speaking, bodies corporate must get replacement valuations for all buildings and any improvements that have been made, at least every 3 years. And, speaking from experience, it really helps when these valuations are spot-on, as under-insuring could cause a shortfall in the event of a claim and over-insuring is an unnecessarily expensive exercise.
We've got a valuable team
You need an experienced and qualified insurer to conduct an accurate valuation for your buildings. Things like construction methods and interior finishes, and features like fire escapes and garages, affect these costings... So, only qualified and experienced quantity surveyors can make the right calculations.
The good news is that the king only works with the very best and so we have these highly skilled people right here in our community insurance team! When you have a King Price MRRP, we do this comprehensive assessment for you for FREE. If you don't have a King Price MRRP, we'll still do a valuation for you and our rates are very competitive.
How the king works it all out:
Please note: A replacement valuation is completely different to a market valuation.