Would you like to change your country?

Protect Your Community
Association with an Insurance Appraisal

An insurance appraisal provides an estimate of total replacement cost for a property in the event of a total loss. We call this the Total Insurable Value (TIV) and it is used for placing property insurance.

3 Reasons You Need an  Insurance Appraisal

Sufficient Insurance Coverage

An annual insurance appraisal ensures that you have sufficient insurance covered in the case of a total loss. A Community Association Insurance Policy typically provides coverage for the buildings and common areas including hallways, elevators, sidewalks, roof, pools and recreational areas including Association-owned equipment. A 3rd party insurance appraisal ensures that all common assets are included with a sufficient replacement cost value.

Avoid Overpayment on Premiums

An appraisal completed by an accredited appraiser ensures you are only paying for the insurance you need and no more. Without one, you may be carrying excessive replacement costs, and as a result paying, too much for insurance. 

Avoid Co-insurance

When a property does not have a current appraisal, it may be subject to a co-insurance clause that requires the owners to self insure a percentage of the replacement cost.

Accredited Insurance Appraisal Experts

At Normac, we specialize in insurance appraisals - it is the only type of appraisal we do!

While other companies offer various types of appraisal services, our team specializes in replacement cost reports. There is no confusion in our valuation methods – our reports are reliable and accurate.

Protect your assets with an insurance appraisal from Normac.

The Normac Difference

 Competitive Pricing

We have a competitive fee schedule and offer appraisal updates at the request of the client in Years 2 & 3 of our three-year program.

 Experienced Appraisers

Our team has over 25 years of experience, having appraised more than $800B in replacement costs, in over 120 cities.

 Unparalleled Service

 Our dedicated client services team is always on standby, ready to answer your questions and support you throughout the appraisal process.

 Proactive Appraisal Management

Our reports are delivered quickly, with updates provided 60-90 days in advance of effective dates along with reminders for program renewals.

 Alignment with Renewal Dates

We can coordinate the appraisal effective date with the insurance policy renewal date, preventing mid-term limit adjustments.

Industry-Leading Reports

Our appraisal reports are comprehensive and trusted by insurance brokers, property managers, and owners for their accurate and justifiable valuations.

Industry-Leading Reports

Our valuations include:

  • DETAILED property description with identifying photos and easy-to-find Total Insurable Value (TIV).
  • COMPREHENSIVE construction type summary that outlines frame type, floor and roof structure and materials, all heating, plumbing and electrical systems, fire protection details, and more.
  • ALL STRUCTURES, landscaping, finishes, and common equipment.
  • CONSIDERATION of all materials to rebuild, labor and professional fees, taxes and fluctuations, all demolition and removal costs to prepare the site for reconstruction, and costs to upgrade the property to meet current regional building codes and municipal bylaws including fire protection and accessibility.
  • A BREAKDOWN of different sections so brokers can secure the best terms based on construction type.

Experience With

All Property Types

Low-rise and high-rise apartment buildingsSenior centersTownhome complexesOffice buildings and towersMixed-use developmentsMalls and commercial developmentsBare Land properties and Homeowners AssociationsLight industrial propertiesGovernment, not-for-profit, and subsidized housingHotels and resortsMaster planned communitiesHeritage buildingsPhased developmentsPlaces of worship

See why owners, property managers, and insurance brokers trust Normac.

Experience the Normac Difference