Keeping insurance values up to date.

Update building values regularly

It took time, effort and hard-earned investment dollars to create and sustain your business. Help your business thrive by regularly assessing the current value of your buildings. The values stated in your insurance policy may not be enough to cover replacement costs at today’s prices if a major loss occurs. Insurance to value (ITV) is an assessment of the complete cost to replace insured property – a critical element of a comprehensive property insurance program.

Demand for building materials going global

Soaring demand from rapidly expanding nations such as China, India and others, has greatly impacted the cost and availability of building materials worldwide. Building materials that were once manufactured domestically are now frequently made overseas – and they’re shipped everywhere. Demand for materials is now a global competition. Your neighborhood lumberyard is, indeed, competing with global forces that wish to utilize the same materials. For this reason, price increases for building materials may more closely parallel the inflation rates of rapidly expanding nations rather than our own.

Rebuilding yesterday’s buildings at today’s prices

Because the cost of building materials and labor has escalated so steeply over the past three years, many commercial properties may be difficult to reconstruct for the values stated on their insurance policies.

1 in 4 businesses are forced to close their doors following a major loss.

Some business owners find their limit of insurance to be understated by 50% to 75%, resulting in significant, unexpected out-of-pocket costs, business disruption or termination of operations, as insurance limits are exhausted. Each year, disasters such as floods, hurricanes, tornadoes and wildfires force thousands of businesses to close. But even more common events, such as building fires, cause the same result. Our research shows that at least 25% of those businesses that close following events such as these do not reopen.

If you're looking for new coverage, feel free to give me a call at (956)-530-4924.

Ismael Rodriguez Jr -[email protected]

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