What will the rest of 2017 bring? With the devastating Western- and Eastern Cape fires fresh on our minds, we can all remember floods, storms, and some notable disasters which brought insurance to the forefront. The adequacy of insurance cover can, however, depends on the accuracy of the valuation placed on the assets.

In general, it is not the claim caused by a leaking basin in a flat above nor graffiti sprayed on the block of garages which will cause an insurance problem, as for such relatively minor claims under insurance will often go undetected. However, the adequacy of the sum insured will be scrutinized following a major incident, such as a fire starting in a centre of a residency building which spreads upwards and downwards, with other areas of the building lying water logged as a consequence of extinguishment. If the cost of repairs were to exceed the building sum insured, what then?
Gavin Commins, CEO of The Valuator Group says, “The unexpected disaster need not be exacerbated by underinsurance. All too often the on-going impact of underinsurance will last far longer than the initial shock of seeing the asset destroyed to the ground. Setting the correct value insured will avoid this misery.”
Insurance reinstatement values rarely bear any resemblance to market values. With such wide ranging cover available, it is essential that all elements that make up assets are allowed for and included in the valuation.
It is therefore good practice to obtain professional valuation for insurance purposes at least every 5 years. The Valuator Group services are tailored to your needs as valuations for insurance purposes are adjusted on an annual basis. On the insurance replacement cost side, for both immovable (property) and movables, we offer clients our 5 year Long Term Assistance Plan (LTAP), which is a cost effective way of ensuring that your assets are accurately valued annually and that you will not have any issues of the Insurer applying Average Clause in the event of any claims.
The Valuator Group offers the following valuation services: Land, Buildings and Improvements; Agriculture – Farms and Game Reserves; Plant and Machinery, Vehicles and all other Contents; Maritime – Luxury Yachts and Boats; Fine Art, Antiques, Jewellery and Contents; Financial Valuation Services; Light Aircraft; Landscaped Gardens; Sports Memorabilia; Restaurant Equipment; Vintage and Classic Cars and All other types of assets. We specialise in the agriculture, hospitality, mining, commercial & industrial property markets including heritage assets.
Nationally 0861 659 659 or email: