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Insurance Valuation

Have peace of mind that your property is insured for the right amount with a registered QV insurance valuation certificate.

 

Many insurance companies ask for proof of the value of your property before they will insure it. Our insurance valuations state the replacement value of your property, keeping your insurer happy and giving you the comfort of knowing your assets are adequately insured and you’re paying the right premium.

 

With the majority of policies now being sum insured, having independent, impartial and qualified advice from QV on how much it will cost to rebuild your home, will give you the reassurance that you have the right cover in place.

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Why are insurance valuations important to you?

Insurance valuations recently have become a lot more important and topical.

 

You may have just received your new insurance policy or heard in the news about home insurance policies changing from “replacement” to “sum insured” policies. Up until now, if your house was destroyed, for example by an earthquake or a fire, your insurance policy would pay out to cover the total cost to rebuild your house – however much that cost.

 

The Christchurch earthquakes had an impact on insurance providers, and led them to question the long-term viability of replacement policies, and resulted in introducing sum-insured policies instead.

 

Sum-insured policies mean that if your house is destroyed, your insurance company will payout only the amount you are covered for in your policy – if you’re insured for $300,000 but your house actually costs $350,000 to rebuild; you will have to find that extra money yourself.

 

What this means for property owners is that it’s your responsibility to find out how much it will cost to rebuild your home. It’ll be important that you make sure your insurance policy matches that figure, so that if you need to you’ll have enough to rebuild your home.

What’s the process with an insurance valuation?

1. Request an insurance valuation or call 0800 16 44 44.

 

2. Once you have requested an insurance valuation;

  • We will get back to you with a quote. The fee depends on the nature of the property and the distance from our nearest office.
  • A time is arranged for your valuer to come and inspect your property.

3. A QV valuer completes a full and comprehensive inspection of the property.

 

4. You receive an insurance valuation certificate which typically includes the house itself, driveways, fences and other man-made structures such as swimming pools and sleep outs.

 

5. Your valuer remains available to answer any further questions you have about your insurance valuation.

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QV Valuation Terms and Conditions