360Value Estimated Replacement Cost Valuation
You need to quote coverage fast and accurately — or lose out to the competition. Verisk’s 360Value® Estimated Replacement Cost Valuation quickly provides reliable insurance-to-value estimates for your properties. It’s just one of the many tools we offer to help you develop the right loss estimates for policies.
Available through the ProMetrix® for Agents application, the 360Value Estimated Replacement Cost Valuation gives you a quick, accurate assessment of the replacement value of any commercial property in the country. The tool enhances your ability to quote the risk and helps you protect your customers with adequate policy limits.
360Value property valuation technology fuses unparalleled data and advanced technology from Verisk Analytics companies Xactware and AIR Worldwide. Along with fast and accurate insurance-to-value estimates for your property, you get a detailed breakdown of costs for the building's actual components, including framing lumber, drywall, paint, and flooring.
The value of estimated replacement costs
According to industry studies, 75 percent of commercial buildings are insured for substantially less than their true replacement value. The 360Value Estimated Replacement Cost Valuation gives you the information you need to:
- identify a key driver of premium and exposure
- help customers determine adequate coverage through informed data sharing and loss estimates
- avoid misunderstandings with your customers
- generate additional premium by determining accurate property values for new locations
- streamline your workflow and improve productivity
Here's how it works
Each year, Verisk’s field analysts collect data on hundreds of thousands of commercial buildings. We look at the construction details and special features of each building, and we store that information in the ProMetrix database.
When you order a 360Value Estimated Replacement Cost Valuation, the ProMetrix system communicates with 360Value building cost databases to match our structural data with Verisk’s unit-cost data.
For more information about the 360Value Estimated Replacement Cost Valuation
- Call Verisk Customer Support at 1-800-444-4554, option 3.