Insurance Valuations

Buildings & Real Estate Cost to rebuild the structure (not the market value). Includes materials, labor, permits, debris removal*, etc.​

Florida Statute 718.111(11) requires that a condominium association’s property replacement cost must be determined at least once every 36 months (every 3 years) through an independent insurance appraisal or an update of a prior appraisal.

Building Structures

Exterior walls, roofs, foundations. Interior common areas (hallways, lobbies, stairwells, elevators). Mechanical systems (HVAC, plumbing, electrical).

Common Elements

Clubhouses, gyms, pools, parking structures. Landscaping, signage, gates, fences.

Shared Infrastructure

Pipes, wiring, boilers, water tanks, etc.

Unit Interior Finishes

May or may not be included, depending on the bylaws and policy type: Bare walls coverage excludes interior unit finishes. Single entity or all-in coverage includes unit finishes like cabinets, countertops, flooring.

Buildings & Real Estate

Cost to rebuild the structure (not the market value). Includes materials, labor, permits, debris removal*, etc.

Many boards voluntarily obtain appraisals every 3–5 years as a best practice.

Business Contents

Furniture, machinery, electronics, office equipment. Valued at replacement cost or actual cash value.

Stock/Inventory

Raw materials, finished goods, and goods in process. Valued at cost or resale value, depending on the policy.

Equipment & Machinery

Replacement cost or depreciated value. Includes specialized or custom equipment.

Business Interruption

Valuation of loss of income due to a disaster. Includes ongoing expenses (wages, rent, utilities) and lost profits.

Other Assets

Tools, vehicles, intellectual property (in some cases), etc.

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Buildings & Real Estate Cost to rebuild the structure (not the market value). Includes materials, labor, permits, debris removal*, etc.​

Common Property:

Clubhouses

Pools

Tennis Courts

Gyms

Fences

Gates

Signs

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Buildings & Real Estate Cost to rebuild the structure (not the market value). Includes materials, labor, permits, debris removal*, etc.​​

Common Property:

Buildings

Guard Houses

Pools

Sports Courts, Tracks, & Fields

Stadiums

Scoreboards

Gyms

Fences

Gates

Signs