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Property Building Valuations Program

AMSC Risk Management Services has added a value-added program for our insurance program members. A building valuation program (to determine insurance replacement cost) is in place. In contract with RMS (Risk Management Services), all of our members within the next five years will have insured buildings (value of $100,000 or more) visited and valued. In recent years, as building construction costs have dramatically risen, it has been increasingly difficult for our members to determine what values to insure their buildings for.

The building valuation costs with RMS will be included in your AMSC Insurance program. Through the aggregated service which AMSC negotiated, your municipality may now access the extra services at discount rates. RMS can provide valuations for buildings under $100,000 as well as contents and equipment valuation and specialized loss prevention inspection services for property and liability risk exposures. RMS provides a detailed building valuation with updated costing for replacement cost construction. The report includes pictures and a basic site plan.

In conjunction with the building valuations, some buildings will have a loss control inspection done to identify risks which may lead to a claim if they are not mitigated. Utilizing building, fire and insurance standards, recommendations are provided to ensure that each member is aware of the risks and is providing direction on how to correct them. Examples include:

  • property hazards such as non-standard fire extinguishers
  • fire hazards such as welding or cooking, water damage on ceilings
  • liability hazards such as blocked fire exits, emergency lighting, trip hazards

For more information or a no-obligation quotation, contact us.

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