Building & Content Insurance Valuations

UniQueCO Property Valuers offer solid business foundations and service deliverance at an affordable, but quality and professional platform. Our valuers are registered with the South African Council for Property Valuation (SACPVP)

  • Residential
  • Commercial
  • Industrial
  • Retail
  • Agricultural
  • Leisure & Hotel
  • Resort
  • Game Lodge
  • Sectional Title Schemes
  • Share Blocks
  • Mining
  • Municipal Infrastructure

Our statistical surveys shows that above 90% of all properties are incorrectly insured. This is generally due to a number of reasons:

  • The property is insured for Indemnity Value instead of Insurance Value
  • Or else insured at replacement value
  • Even market valuations are used instead of an insurance valuation
  • The insured sum amount is not reviewed on a regular basis
  • Natural disaster cover is not available or is cost prohibitive
  • Unknown insurance risks
  • Incorrect property

In order to insure a property correctly, it is important that customers obtain a valuation form a Registered Valuer for Insurance Purposes. There is a difference between Replacement Value and Insurance Value. Insurance value is a combination of the Replacement Values and provisional Expenses. This will also help the insured, insurer and underwriter understand the value of the property and the risk to be incorrectly insured.

Property Types

  • Residential
  • Commercial
  • Industrial
  • Retail
  • Agricultural
  • Leisure & Hotel
  • Resort
  • Game Lodge
  • Sectional Title Schemes
  • Share Blocks
  • Mining
  • Municipal Infrastructure

Comprehensive Valuation Report

We offer a comprehensive valuation report cover the following information and risk factors:

  • Client / Broker Instruction Information
  • Property Access & Contact Detail
  • Physical Address of Property
  • Property Deeds Information
  • Accommodation Type & Physical Criteria
  • Structural Survey
  • Physical Risk & Exposure
  • General (EML/PML) & Safety Measures
  • Valuation Methodology (I.e. Replacement Value + Provisional Costs = Insurance Value)
  • Calculations (Standard for Residential, or else Advance for Specialised Buildings)
  • Photos (6 External and 6 Internal)

Valuation Software

FINIQ UniqueCo Property Valuers have developed their own live online web based software for Building Insurance Valuations identifying and reducing risk in association with InnovatusIT. A web based application to simplify property valuation for you, a valuable potential customer to us.

Streamline your business process for all your building insurance valuations, by an independent CPA accredited service provider, thus removing any personal involvement in the value of any property. FINIQ allows us and our clients to lower costs, reduce human error, and improve the transparency of the whole valuation process. It is a unique and professional service offer to our clients.

FINIQ Unique Integrated Valuation Software

  • FINIQ Live Online Web-based Software (Hosted with AFRIHOST)
  • FINIQ accessible any place and time as long as you have internet access
  • 24 to 72 hour turnaround time
  • National representation
  • Standard & Advanced Building Insurance Calculators Applicable
  • Physical Inspections & Comprehensive Valuation Reports
  • Identification and reducing risks
  • AECOM Quantity Surveyors Construction Cost Analyses
  • Affordable Valuation Fees
  • Trained and experienced administrational team
  • Qualified and registered property valuers
  • Accredited Financial Service Provider (CPA)
  • Sufficient Indemnity Insurance Cover
  • One stop service provider
  • Job Creation

Freequently Asked Questions

What is "Coinsurance"?

Under a coinsurance arrangement, the person insured by the primary policy is regarded as a joint insurer and becomes jointly and proportionately responsible for losses. 

For such reasons, it is important for insurance companies to consistently ensure that their policyholders are maintaining an adequate level of coverage. Referring to an “insured or assured” applicant, it is a commonly accepted Valuation Standard that in “all cases it is in the interest of the owner of the real estate to ensure that he/she/they are covered against the various risks”. 

Subject to the Consumer Protection Act, it will be expected from the FSP to advise the insured in accordance to obtain a Building Insurance Valuation.

Why are insurance valuations required?

Reassurance the sum insured on your policy schedule is as accurate as possible. This will mean in the event of a total loss, you should have sufficient funds to rebuild the property 

Providing a starting point for an accurate sum insured which can be updated each year in line with inflation 

Estimating the rebuild costs for unusual features of the property e.g. fences, bridges… 

Obtaining an accurate indemnity value for fire service levy charges

What happens if property is underinsured?

Only portion of your claim could then be paid out.

Insurance Value is the amount at what it will cost you on the date of claim to rebuild your home, outbuilding, walls, swimming pool, etc.

So if say:

Damage claim is, R200,000
Current Insurance Cover, R2,000,000
Actual Insurance Value, R3,000,000
Under Insured with? R1,000,000
Therefore, R2,000,000 ÷ R3,000,000
Equals, 66,6%
Therefore, R200,000 x 66,6% = R133,200
Loss of say, R66,800
I was underinsured, but I had a broker?

The onus is upon you as owner to make sure you are correctly covered. 

If an insurance broker or an accredited financial service provider (FSP) offered to assist you, the FSP take over your responsibility. 

The FSP have to advice you on getting an “independent” valuation by a registered valuer. It is law by means of the Consumer Protection Act (CPA). 

If you decline, your broker should decline assisting you. 

If the FSP proceed to assist you, but with a written declaration by you as client waving the advice given, the FSP still violated the requirements made by the CPA.

I am insured by my bank. And?

How often does your bank inspect your property for an updated Insurance Valuation? 

Do you ever inform your bank of upgrading and renovations made to your property? 

Was any risk related issues liaise with your bank. 

So who is your broker at the bank? Who is responsible if being incorrectly insured? 

Did you know you can move your cover elsewhere?

When do insurers decline or partially decline claims?

When being under- or over insured. 

When certain risk aspects have not been identified and brought to the attention of your insurer. 

Always use a broker who knows the requirements of insurers.

Have a different Question?