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Overview

Welcome to the Insurac Quote Valuation Facility

Insurac provides building cost estimates for personal use structures for the purpose of arriving at a coverage amount that reflects a reasonable estimate of the costs involved in rebuilding the property in the event of an insurance loss.

The valuations we provide on full reports are based on detailed field data gathered by on site visits. In support of our values we collect, store and manage data related to building costs. The data is obtained through our own research, field interviews and software development. Comparatives are maintained through subscriptions to established data providers.

This facility offers a quick quote process based on limited off site information and general assumptions based on limited input. These valuations are designed to be used only as a guide and should always be followed up with full on site visit.

The Estimator Page input is designed to work with the minimum amount information which should be available during the process of quoting on a new property insurance policy:

1) A numerical identification such as policy, file or quote number
2) Territory definition is provided by a Postal Code to a maximum of three characters and a minimum of one.
3) Quality class selection is based on the building structure and finish quality. These descriptions are defined and can be reviewed through the menu page selection option: Class Descriptions
4) Exterior wall structure is not detailed but category oriented and based on the three basic types: Masonry, Veneer and Frame. (The numbers will show in red until the total adds up to 100%).

After pressing the “get cost/sq.ft.” button, a sample group of structures of the same Quality Description and Territory as the one selected will be displayed as a perspective reference.

In the summary Calculation area sample unit costs (sq.ft.) will be displayed for each portion of the structure. Depending on the building being quoted the applicable square footage areas should be inserted. There are spaces for upt to three levels of living area buildings.

Finished and unfinished basement areas are also inserted with crawl spaces being added to unfinished totals. Slab on grade and piers are not calculated at this point.

The Additions Section is divided into five sections:

Two sections for Built-in & Attached Garages

Three sections for other extras:

Open Porches & Decks: Open porches, stoops, terraces, raised patios (not part of landscaping), wood or synthetic material decks and balconies, all without covers.

Covered Porches & Decks: Porches, stoops, terraces, raised patios, wood or synthetic material decks and balconies with structural covers which are attached to or integrated into the main building.

Closed Structures and Inground Pools: Any attached four wall or three wall (with doors) enclosures including screen or solid wall porches, greenhouses and utility rooms. If the area is finished (heated or not) the area should be included in the Living total. Due to Ovation policy the Inground Pool area is to be included as an attached structure.

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