Protecting Your Assets
D.R. Coell provides replacement cost appraisals of commercial, residential, and strata properties throughout Greater Victoria as well as across Vancouver Island, Gulf Islands and Mainland BC. With a dedicated insurance division, we protect your real estate investment by providing an accurate estimate of replacement cost.
Our insurance appraisals protect our clients in two important ways. Firstly, an accurate insurance appraisal ensures you have adequate protection in case of a loss. Secondly, a detailed insurance appraisal ensures you are not overpaying on premiums.
Vancouver Island’s Trusted Insurance Appraisers
Our insurance appraisals include a detailed inspection of the property, including a sample of units if applicable, common areas, and outdoor spaces. Floor plans, strata plans and site services are reviewed as applicable to the assignment. We conduct an inventory and identification of all pertinent and specialty construction features. Quality of finishes is noted, and photographs are taken of the interior and exterior of the property. Components that have not been included in our replacement cost estimate are specifically listed for the reader. This comprehensive narrative provides our client, their broker and insurance provider with an accurate valuation of the assets to be insured.
With strong relationships across the real estate and construction industry, we are able to provide our clients with the most accurate estimate of building materials, demolition costs, debris removal, taxes and fluctuations. As one of Victoria’s longest standing appraisal firms, we have built a reputation for timely, accurate insurance appraisals that our clients can rely on.
Why Do You Need an Annual Insurance Appraisal?
Whether you are an insurance broker, residential home-owner, commercial investor, strata council, or property manager, an insurance appraisal conducted by an accredited Appraiser provides valuable insight into a property’s replacement cost. Replacement cost is about more than just rebuilding what was lost. An insurance appraisal carefully considers the cost to demolish remaining structures, debris removal, correction of bylaw deficiencies that may be required upon reconstruction, as well as all reconstruction costs to a comparable standard of the original property. Your property is unique, and a detailed appraisal ensures that your specific property is accurately insured.
Investing in an insurance appraisal provides peace of mind that your premiums are accurate, and that you are adequately insured. Further, we offer update letters at a reduced rate for four years after the original report. That means your insurance valuation is always up-to-date and accurate.
Serving Victoria, Gulf Islands, Vancouver and Surrounding Area
D.R. Coell & Associates is proud to provide Insurance Appraisals to Greater Victoria, the Gulf Islands, Vancouver & More. We are based in Victoria, British Columbia but our incredible investments in technology allow our Appraisers to access our entire office remotely. These technologies permit our Appraisers to offer the same level of high quality insurance appraisals across all of Vancouver Island, the Gulf Islands, Mainland and more! We are even accredited in Alberta where a special license is required. No matter where you need an insurance valuation to be conducted, we will come to you!
Providing Insurance Appraisals to:
- Capital Regional District: Victoria, Saanich, Oak Bay, Esquimalt, View Royal, Langford, Colwood, Central Saanich, Highlands, North Saanich, Sidney, Metchosin, Sooke, Salt Spring Island, Juan de Fuca, Southern Gulf Islands, Port Renfrew, Jordan River
- Cowichan Valley Regional District: Duncan, Ladysmith, Lake Cowichan, North Cowichan
- Nanaimo Regional District: Nanaimo, Parksville, Qualicum Beach, Lantzville
- Comox Valley Regional District: Comox, Courtenay, Cumberland
- Mount Waddington Regional District: Alert Bay, Port Alice, Port Hardy, Port McNeil
- Strathcona Regional District: Campbell River, Gold River, Sayward, Tahis, Zeballos
- Alberni-Clayoquot Regional District: Port Alberni, Bamfield, Sproat Lake, Great Central Lake, Tofino, Ucluelet
- Greater Vancouver
- Prince Rupert
- Prince George
Frequently asked questions
- How Much Does an Insurance Appraisal Cost?
Our fees are based on the specific scope of each assignment. As such, discussions with one of our experts will provide the most accurate quote. Obtaining regular, timely insurance updates is important to ensure that your property is adequately, but not over-insured. As such, we offer annual update letters at a reduced fee for four years after the original report has been conducted.
- How Often Should a Strata Have an Insurance Appraisal Done?
Insurance appraisals should be conducted regularly to ensure that your property is neither over nor underinsured. Obtaining an up-to-date replacement cost estimate is sound property management. To facilitate this, D.R. Coell offers annual update letters at a discounted rate for four years after the original report has been produced. After the four-year lifespan of the report, a new report is recommended.
- Why Is It Important To Have an Up-To-Date Insurance Appraisal?
Maintaining an up-to-date replacement cost of your property ensures you are neither over nor underinsured. Our Appraisers are experts in building costs. Cost data changes rapidly, and obtaining regular insurance appraisals provides peace of mind that your property is accurately insured.
- What is The Purpose of an Insurance Appraisal?
Insurance Appraisals are comprehensive reports that provide a detailed narrative of your property’s components, and an accurate estimate of the replacement cost of your property in the event of a disaster or loss. Insurance appraisals offer protection to clients in two important ways: by ensuring adequate coverage is provided in case of a loss, and by ensuring premiums are not overpaid.