Replacement Costs vs Reproduction Costs for Appraising Historic Property
by Gary Tate, Property Appraisal Quality Manager When you’re insuring a historic property, you’re likely to face questions you wouldn’t encounter with more modern buildings. One of the biggest of these is whether you insure the building for replacement costs or reproduction costs. But before we dive into that, first let’s talk about what constitutes […]
The Value of Property Insurance Appraisals
Every organization is exposed to a variety of risks. This includes the potential for damage from events like fires or windstorms, making it important to be prepared. Property appraisals that provide accurate insurable values and detailed exposure data can help reduce the impact felt by a risk occurrence and increase the resilience of your operation. […]
Reducing Your Risk Exposure on Historic Properties
Historic properties stand as an important reminder of, and glimpse into, bygone days. But maintaining these structures may present some challenges that leave you longing for a user-friendly time machine to hire some talented craftsmen from the past. Federal rules, like the Standards for the Treatment of Historic Properties, mean you can’t simply tear down, replace, […]