Competing effectively in today’s fast-paced property marketplace means that “good enough” data isn’t good enough anymore. Starting with the most reliable component-based replacement cost estimate helps support insurance-to-value, protecting both the policyholder and the insurer.
As a leader in replacement cost estimation for over 20 years, Verisk offers five key strategies to help avoid underinsurance and outdated valuations that could leave you and your customers vulnerable in the event of a total loss. These Include:
- Adjusting material and labor pricing monthly
- Tapping into claims-based data
- Preparing for potential natural catastrophes
- Refining valuation methodologies for home and building contents
- Using reliable data to derive maximum value from prefill
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