Accurate Insurance Coverage: Why Performing a Replacement Valuation Every Three Years is Critical

Insurance plays a vital role in protecting your Scheme. Without regular replacement valuations, the risk of underinsurance increases — especially as building costs rise.

Here’s why a 3-year valuation cycle is essential:

• Avoid Underinsurance – Outdated insured values may leave the Scheme exposed in the event of damage or disaster.
• Compliance – The Body Corporate, represented by the Trustees, is legally responsible for obtaining a replacement valuation at least every 3 years to ensure adequate cover.
• Peace of Mind – Accurate insurance means owners are financially safeguarded when it matters most.

Need help arranging your next valuation? ANGOR works with trusted professionals to keep your cover accurate and compliant.