At Valuations VIC, we complete Building Insurance valuations that comply with state legislation. As per the Owners Corporation Act 2006, the owner’s corporation are required to reinstatement and replacement insurance. Under the Act, this must cover public liability and all buildings on the common property.
Receiving a valuation for building insurance is required to be obtained to ensure that the building, including all of its permanent fixtures are correctly valued to avoid under-insuring. The valuation must include replacement costs for any services or structures as well as any costs to employ contracts for potential works.
Our reports breakdown factors such as:
Demolition costsCouncil or other professional feesIncurring GST costsConstruction costsReplacement costs of services/structures
If you require a building valuation to comply with the Owners Corporation Act 2006, contact our specialised team on (03) 9021 2009 or fill out an online form.
Please contact us for a guaranteed competitive quote.