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210 Charles Street
Port Orange, Fl 32129
Condominium Associations
It may be time for your 36 month valuation.
Florida state law requires all condominium associations to have a replacement cost valuation conducted at a minimum of every 36 months.
Florida State Statute 718.111(11)a:
Adequate property insurance, regardless of any requirement in the declaration of condominium for coverage by the association for full insurable value, replacement cost, or similar coverage, must be based on the replacement cost of the property to be insured as determined by an independent insurance appraisal or update of prior appraisal. The replacement cost must be determined at least once every 36 months.
After the extremly active hurricane season of 2004 and 2005 the State of Florida saw that condominium associations were badly under insured.
It is a fiduciary responsibility of the Condominium Association Board of Directors to make sure that this valuation is completed and the correct amount of insurance coverage is in place.
It is a fiduciary responsibility of the Condominium Association Board of Directors to make sure that this valuation is completed and the correct amount of insurance coverage is in place.
Expert Insurance Valuations reports for condominium associations include:
-Wind Storm Coverage -Flood Insurance -Ordinance or Law Valuation
Experience, professionalism and accuracy doesn't have to be expensive.
We produce the most complete and detailed reports showing the correct current valuation cost at affordable pricing.
In Expert Insurance Valuations we also include most site additions like:
In Expert Insurance Valuations we also include most site additions like:
- Pools
- Spas
- Fencing
- Retaining Walls
- Seawalls
- Lighting
- Flagpoles, etc.
