A considerable number of property owners are under-insured according to a recent study conducted by the Insurance Council of Australia. This is a serious problem and many owners would be faced with substantial financial loss in the event of a total loss.

Section 181 of the Body Corporate and Community Management (Standard Module) Regulation 2008 requires that Bodies Corporate must obtain Insurance Valuations every five years stating the full replacement value of their building(s) and is now compulsory .

No one wants to pay too much for their property insurance. On the other hand, no one wants their property to be under-insured.

ABSCAN offers an accurate cost estimation for your insurance valuation on re-construction costs to ensure that your property is fully covered in the unfortunate event of a claim being made.

This valuation is not a market valuation that a real estate valuer would provide, but is an indication of costs to rebuild the property, including demolition, design and statutory authority costs.