360Value for Personal Property
360Value
Meet evolving customer expectations, while maintaining rating integrity
Replacement costs can fluctuate for properties you insure when homeowners make improvements and building material prices rise and fall. 360Value® delivers reliable component-based, claims-driven replacement cost estimates to help keep policyholders protected.
Shifting trends for a fuller picture of reconstruction cost growth
In a time of shifting percentages, growing inflationary pressures, and record-breaking peaks in material composites, reconstruction cost prices have taken a rollercoaster ride.
Get reliable replacement costs for every property in your portfolio
Get reliable replacement costs for every property in your portfolio
From underwriting to policy renewal, 360Value generates reliable replacement cost estimates for properties you insure. We account for the costs to fully reconstruct a property—down to the screws and nails.
Track the latest changes to reconstruction costs
Reconstruction costs can change at different rates across time and location—and can be very localized. Each quarter, Verisk reports reconstruction cost data and trends at the national and state levels.
Estimate replacement costs for diverse structure types
Capture luxury home reconstruction costs to the last custom detail
Deep data resources on labor and materials costs – integrated into underwriting workflows – are critical when reconstruction calls for high-end materials and specialized skills.
Get a more complete picture of a manufactured/ mobile home
Make, model, age, location, and additional attached or detached structures can quickly complicate the calculation.
Condominium valuations from a leader in replacement cost estimates
Insuring condominium units with only lender requirements or square footage can pose a challenge for replacement cost estimation.
Five strategies for better replacement cost estimates
Five strategies for better replacement cost estimates
As a leader in replacement cost estimation for more than 20 years, fueled by a strong connection to claims-based data, Verisk recommends five strategies to help avoid outdated valuations that could leave insurers and their customers vulnerable in the event of a total loss.
Replacement cost estimates grounded in actual claims experience
Replacement cost estimates grounded in actual claims experience
With 360Value, your replacement cost estimates can accurately reflect real-world prices for labor and materials, based on extensive research, direct data feeds, claims analyses, and communication with 92,000 claims and building contractors.
The Lifecycle of a Property
The Lifecycle of a Property
Discovering property change events helps insurers obtain a clearer view of their portfolio to help focus on profitability, maintain underwriting standards, focus on new business growth, and help homeowners protect their investments with adequate coverage.
Integrating 360Value into your workflow
Integrating 360Value into your workflow
From device-agnostic quoting to back-end processes in policy management and underwriting systems, 360Value integration options can deliver reconstruction cost estimates tailored to your business and IT needs.
Responding to growing catastrophe threats
Fuel to the flame
Verisk analyzes an expanding array of factors to gain deeper understanding of wildfire, including mitigation considerations.
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Understanding evolving hail risk
Learn about the impacts of hail activity in new regions, the possible near-term effects of climate change, and how increased hail activity may affect roof replacement.
Building property risk profiles from a data ecosystem
The aftermath of the Marshall Fire in Boulder County, Colorado, highlights the importance of complementary datasets. Insurers can gain a comprehensive view of property risk, from all angles.
Prefill data to accelerate personal property underwriting
Prefill data to accelerate personal property underwriting
Use a multisource property prefill database that analyzes diverse data sources to identify the most reliable information per characteristic.
Leverage pre-built integrations with multiple policy administration systems. Partnerships and accelerators can help support easy and seamless workflows.
Additional insights
As increases slow, reconstruction costs show signs of stabilizing
Total reconstruction costs, including materials and labor, increased 6.8% from January 2022 to January 2023, a drop from the last quarter.
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Keeping pulse: Tracking the latest price surges to maintain ITV
Verisk data shows the cost to rebuild a property is still more than 11 percent higher, on average, than it was pre-pandemic.
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Hurricane Ian and other pressures drive uptick in reconstruction costs
Total reconstruction costs, including materials and retail labor, increased by 9.3% from October 2021 to October 2022.
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