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Request Update

What happens when I request an update?

We will take your update request by phone, email, or by our internet form and will then send you an update proposal and a list of information needed to complete the update.  An inspection is not done when doing an update report.  Instead, an update report is based on the information that we have already collected, the new information that you send us, and our continuously updated in-house database.

How long will it take to complete the update report?

Typically it takes no more than three weeks to complete the update report after we have received all the required information.

How often should we have a reserve study update and what are the benefits?

It is important that you keep your report information current with an annual update report.  Since the initial calculations on the property have now been performed, we can offer this service to you at just a percentage of the cost of your "first time" reserve study.

In each update report any reserve related changes made to property since the time the last report was prepared will be reviewed.  Based on the latest available data, all reserve component costs and life expectancies will be adjusted accordingly.  Current financial data will be entered in and a new analysis will be performed.  The update report will be prepared in our office without an on-site visit. 

Future site visits may be recommended when substantial changes are made to the property and/or to observe the present condition and rate of deterioration of the reserve components.

How often should our association have an insurance value appraisal update and what are the benefits?

Inflation, labor rates, material availability, taxes, insurance, and depreciation are just but a few of the ever changing variables I address in your value appraisal report.

Now that your "First Time" appraisal has been completed, it is important that you keep your program on target with our annual "Update" reports.  Since the initial calculations on the property have now been performed, we can offer this service to you at just a percentage of the cost of your "first time" appraisal report.

In each update report any related changes made to property since the time the last report was prepared will be reviewed.  Based on the latest available data, all insurable value costs will be adjusted accordingly.  Current construction cost data will be entered in and a new appraisal report will be prepared.  The updated report will be prepared in our office without an on-site visit.  Future site visits may be recommended when substantial changes are made to the property.

Key Benefits

  1. To keep your insurance values up to date and in sync with the volatile and ever changing construction costs in your area.

  1. To stay up to date with the material changes and improvements that are typically made to a property during its' lifetime.  Changes that could significantly alter the property’s insurable values.

  1. To prevent a co-insurance penalty for being under-insured.

  1. To avoid paying excessive premiums because the property has been over-insured.

What documents or information do I need to provide you with for a reserve study update?

To see a list of requested documents and information please click here.

What documents or information do I need to provide you with for an insurance appraisal update?

Just complete the form below and we will be in contact with you.

Request Update Online