Insurance Valuations

The following highlights some key points with respect to the valuation methodology used by the Funds valuers. It is important that clients understand the basis upon which the valuations have been prepared, and if necessary obtain further advice to better quantify the amount of insurance cover required.
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Basis of Valuation

Valuations are prepared on the basis of individual site assessments. 20% of the portfolio is inspected each year on a rolling basis, with the remaining 80% valued on a desktop basis based upon prior year assessments.

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Modern Day Materials

The estimated cost of restating assets is on the basis of full reconstruction using modern day building materials and construction techniques, assuming the existing building has been completely destroyed/demolished.

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Heritage

The valuations do not reflect the costs of reinstating the buildings in sympathy with their possible "heritage" appearance in the event of a partial loss and assume total destruction. The Valuers are not experts in assessing replacement costs for heritage structures and we recommend advice is sought from a quantity surveyor or other qualified expert in this respect.



​Stained Glass

Some churches have stained glass windows. Whilst the Valuers are not experts in assessing the cost of stained glass windows, they have made inquiries sufficient to understand the costs involved in replacing basic stained glass windows, these costs are reflected in the valuations. Where a Church features a substantial amount of stained glass, or intricate stained glass, we recommend expert advice is sought.



Organs

Organs are specifically excluded from the building valuations, as the Funds valuers are not experts at valuing organs. We recommend Parishes seek specialist advice with respect to the value of their organs.

 

More information

For more information regarding the assumptions and basis of valuations. Please click on the icon to download a copy of the Funds valuation report.

Valuation Report