Legally speaking, bodies corporate must get replacement valuations for all buildings and any improvements made, at least every 3 years. 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.
You need an experienced and qualified insurer to conduct an accurate valuation of your buildings. Things like construction methods and interior finishes, and features like fire escapes and garages, affect these costings... So, you need a qualified and experienced quantity surveyor to make the right calculations.
The good news is that the king only works with the very best! So, we have these highly skilled people right here in our community insurance team. When you have a King Price maintenance, repair and replacement plan (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 at our very competitive rates.