Ensuring insurance to value (ITV)—from new business to renewal—is good for you and your policyholders: They’re better protected in the event of a total loss, and you collect premiums appropriate to the risk.
360Value® uses the building cost information in our claims loss estimation system, Xactimate®, providing highly reliable replacement cost estimates supported by recent claims loss experience.
Reconstruction costs have increased significantly during the pandemic, with the price of some materials, like lumber, rising persistently with growing demand. Watch this on demand webinar to learn how to improve your underwriting and provide customers with the right amount of coverage by using replacement-cost estimates based on actual claims data.
Data demands to support underwriting are growing and increasingly hard to manage. 360Value can give you easy access to trustworthy property and hazard information on insured risks.
Reconstruction costs can change over time, and at different rates by geography, down to a very localized level. Each quarter, Verisk’s reconstruction cost data reports provide reconstruction cost trends at the national and state/province levels for the U.S. and Canada.
Get more reliable, component-based replacement cost estimates that account for virtually all material and labor required to rebuild with 360Value for commercial lines.
Total reconstruction costs surged at historic rates in the United States and Canada from October 2019 to October 2020 as lumber prices spiked.Read the article
Ripples from the pandemic are reaching homeowners insurers as the new normal transforms the housing market in multiple ways.Read the article
OneXperience for personal and commercial lines can transform property inspection workflows with valuation tools, property characteristics, and aerial imagery.Read the article