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Insurance to Value

Insurance to Value - church after devastating fire

Insurance to Value means protecting the true value of your property

According to studies conducted by insurance companies and independent property valuation firms, a large percentage of properties are under-insured. Simply put, their insurance policies have an insufficient coverage limit and, in the event of a total loss, cannot pay for the cost of rebuilding the property. As a result, community members must make up the difference.

Why are some properties under-insured?

Under-insurance happens when policyholders:

  • Do not account for the effects of inflation on insurance coverage
  • Underestimate the replacement costs of buildings and their contents
  • Do not factor in professional costs such as architectural, engineering and other such fees
  • Do not consider the impact of rising material and labour costs, building codes and other regulations
  • Do not update the value of their properties on a regular basis.

Insurance-to-value provides peace of mind

Insurance to Value - restoration work in progress

At Ecclesiastical, we have extensive first-hand experience with the cost of claims. We know full well how organizations can be devastated by a total loss. That’s why we urge our customers to have adequate insurance to cover the full value of their property.

Ecclesiastical’s Risk Management Specialists, who are highly skilled at performing property valuations, are ready to help customers determine an appropriate amount of insurance. Ecclesiastical was a pioneer in determining the replacement costs of unique and heritage buildings and we have over 100 years of experience.

For more information about insurance-to-value and what it can mean for your organization, speak to your independent Broker. And be sure to ask about an Ecclesiastical Insurance Valuation. We offer it to our customers, free of charge.