Overview

An automated Building Valuation's quality and accuracy depends on the quality of the building's information inputted in the Property Insurance Valuation Platform application.

Relation Information/Setup

Please see the Reviewing a Completed Building Valuation article for further information on Building Valuations.

• Reviewing a Building Valuation

Please see the Setting up a Building Valuation Using Multiple Currency for further information on using multiple currencies for the Replacement Cost estimation.

• Setting up a Building Valuation Using Multiple Currencies

Navigation

1. From the Home screen, click the Home Menu and select Valuations from the dropdown menu.

Home Menu

2. From the Get Valuations screen, click the + Get Building Valuation button.

+ Get Building Valuation Button

Submitting a Building for Valuation

1. From the Create a New Building screen, fill out the following fields under the Building Details section:
   • • Site: 
       • Add Existing Site: Click the Add Existing Site link to add the Building Valuation to a Site, connecting the building to a site.
       • + Create New: Click the + Create New link to create a new Site to connect to the Building Valuation.

Add Existing Site Link

• • (Required) Building Name: Enter a Building Name or Insured Address in the Building Name field. The Building Name can be used to identify the Valuation in the system.
  • (Required) Building Occupancy: Select a Building Occupancy type from the dropdown menu. A Building Occupancy type categorizes buildings based on primary use. Expert valuations should review Other Building or Not Specified occupancy types.
    • Light Industrial Buildings: A Light Industrial Building is an industrial facility with office space that does not require a special foundation. Light Industrial Buildings are the most common type of industrial building.
    • Heavy Industrial Buildings: A Heavy Industrial Building is an industrial facility with specialized equipment for producing goods and materials. Their infrastructure has high-capacity electrical, heavy ductwork, and a special foundation to support heavy machinery.
    • R&D Industrial Buildings: An R&D Industrial Building is a facility specializing in advanced manufacturing or pharmaceutical development, containing offices, laboratories, pilot manufacturing areas, etc.
    • Food & Beverage Factories: A Food & Beverage Factory is a facility which specializes in food and beverage manufacturing, containing temperature-controlled areas, clean areas, and specialized flooring (e.g., epoxy).  
    • Laboratory Buildings: A Laboratory Building is a facility which contains laboratories and supporting offices with high ceilings, large spaces for mechanical services, and service elevators.
    • 3-Star Hotel:  A 3-Star Hotel is a standard hotel facility with a restaurant and basic amenities.
    • 4-Star Hotel: A 4-Star Hotel is a high-quality hotel facility with a bar area, restaurant, and amenities.
    • 5-Star Hotel: A 5-Star Hotel is a luxury hotel facility with multiple bar areas, restaurants, and amenities.
    • Long Stay Residential Care Homes: A Long Stay Care Home is a residential facility with one and two-bedroom apartments, a communal area, a dining area, a recreation area, and accessible washrooms.
    • Storage Hanger: A Storage Hanger is a facility that houses aircraft for storage and maintenance. 
    • Storage Warehouse: A Storage Warehouse is a facility built for storage between 500 - 5000 m² gross floor area.
    • Cold Storage Warehouse: A Cold Storage Warehouse is a facility built for perishable item storage consisting of temperature-controlled rooms with insulated walls and ceilings.
    • Distribution Warehouse: A Distribution Warehouse is a facility built for storage above 2000 m² gross floor area with high ceilings and multiple loading docks.
    • Mega Storage/Distribution Warehouse: A Mega Storage Warehouse is a facility built for storage above 15000 m² gross floor area with a high ceiling and numerous loading docks.
    • Office Building Basic: An Office Building Basic is an office facility with 1 - 4 floors with air conditioning.
    • Office Building Mid Rise: An Office Building Mid Rise is an office facility with 4 - 10 floors with air conditioning.
    • Office Building High Rise: An Office Building High Rise is an office facility with 10 or more floors with air conditioning.
    • Office Building Prestige: An Office Building Prestige is an office facility with high-end internal and external finishes.
    • Townhouse: A Townhouse is a residential facility in an urban or suburban environment with multiple floors and shares two walls with other residents.
    • Terraced House: A Terraced House is a residential facility in an urban or suburban environment with multiple floors and shares two walls with other residents as part of a terrace block.
    • Detached Bungalow: A Detached Bungalow is a low house with one story.
    • Semi-Detached Home:  A Semi-Detached Home is a dwelling attached to another building by one common wall. Often, each house's layout is a mirror image of the other.
    • Detached Home (Standard): A Detached Home is a detached residential property, with four plus bedrooms over multiple floors. This property does not share walls with another house.
    • Individual Luxury Home: An Individual Luxury Home is a detached residential property with four-plus bedrooms and multiple floors.
    • Apartment Low Rise/Basic: Apartment Low Rise is a residential property consisting of flats or apartments with 1 - 3 bedrooms each in a multi-floor block.
    • Apartment Mid Rise: An Apartment Mid Rise is a residential property consisting of flats or apartments with 2+ bedrooms each in a 5 - 12 story block.
    • Apartment High Rise: Apartment High Rise is a residential property consisting of flats or apartments with two plus bedrooms in a 13 plus story block.
    • Apartment High Rise/Luxury: Apartment High Rise Luxury is a luxury residential property consisting of flats or apartments with multiple bedrooms in a three-plus floor block. 
    • Apartment High Rise Luxury has a higher unit replacement cost than the High-Rise Apartment type.
    • Dormitories: A Dormitory is a residential facility housing students or military personnel with multiple floors, communal recreation, and lobby areas.
    • Gatehouse: A Gatehouse is a basic construction security building on a large industrial complex.
    • High School: A High School is a secondary educational facility with classrooms, lecture halls, communal areas, recreation areas, etc.
    • Elementary School: An Elementary School is a primary educational facility with classrooms, lecture halls, communal areas, recreation areas, etc.
    • University: A University is a higher educational facility with classrooms, lecture halls, communal areas, recreation areas, offices, laboratories, etc.
    • Shopping Center: A Shopping Center is a multi-floor retail facility with multiple retail spaces, open spaces, escalators, elevators, etc.
    • Supermarket: A Supermarket is a single-floor grocery facility with open space and temperature-controlled storage areas.
    • Showroom: A Showroom is a car, furniture, or goods store with a large open space and glass showcase fronting.
    • Restaurant: A Restaurant is a food facility with a dining area, bar, and kitchen.
    • Cafeteria: A Cafeteria is a food facility within a workplace or educational building with a dining area, service area, and kitchen.
    • Retail Store: A Retail Store is a retail facility with an open space, ancillary offices, and a storeroom.
    • Petrol Station with Canopy: A Petrol Station with Canopy is a fueling station that is covered with a roofing structure. The canopy provides cover for the fuel pump and charging stations.
    • Museum and Planetarium: A Museum is an exhibition facility with large open spaces, secure and climate-controlled conservation, store areas, workshops, visitor amenities, office, etc.
    • Music Hall and Concert Venue: A Music Hall is an entertainment facility with a large open space, stage, seating, backstage area, sound and lighting control room, box office, concession, etc.
    • Theater and Auditorium: A Theater is an entertainment facility with a large open space, specialized finishes, stage, seating, backstage area, sound and lighting control room, box office, concession, etc.
    • Casino: A Casino is an entertainment facility with a gaming floor, restaurant, bar, bright lighting, and security features.
    • Sports Arena: A Sports Arena is an entertainment facility with seating/stands, a playing area (field, rink, etc.), lighting and sound systems, concourses for circulation, restrooms, concessions, etc. 
    • Church or Place of Worship: A Church is a religious/worship facility with cultural context, seating, stage, restrooms, etc.
    • Recreation Center: A Recreation Center is an entertainment facility with a gymnasium, counts, fitness center, swimming pool, studios, lockers, change room, etc.
    • Bowling Alley: A Bowling Alley is an entertainment facility with multiple bowling lanes, reception, bar, offices, kitchen, etc.
    • Day Center Hospital: A Day Center Hospital is a medical facility for day surgical procedures with a surgery center, reception, preoperative and post-operative areas, operating rooms, exam rooms, waiting rooms, etc.
    • Regional Hospital: A Regional Hospital is a general medical facility with specialized departments (cancer, heart, trauma, etc.), inpatient care, outpatient services (diagnostic, rehabilitation, clinics), and multiple floors.
    • General Hospital: A General Hospital is a general medical facility with specialized departments (cancer, heart, trauma, etc.), inpatient care, outpatient services (diagnostic, rehabilitation, clinics), emergency department, pharmacy, laboratory, dining area, kitchen, chapel, gift shop, and multiple floors.
    • Airport: An Airport is a transportation facility with airside and landside areas, security, offices, air control towers, baggage sorting area, kitchens, dining areas, retail areas, waiting areas, etc.
    • Exhibition or Convention Center: An Exhibition Center is an entertainment facility with large open areas for trade shows, exhibitions, conferences, meetings, kitchen areas, restrooms, reception, office areas, etc.
    • Mixed-Use Residential w/ Retail Below: A Mixed User Residential Building is a retail/residential facility with retail space on the ground floor and residential space above.
    • Fire Station: An emergency facility with truck bays, living quarters, training area, offices, decontamination area, kitchen, rehabilitation area, etc.
    • Data Center: A Data Center is a computer equipment housing facility with robust construction material, aid conditioning, false flooring/ceiling, with strict security.
    • Multi-floor Parking/Below Ground: A Multi-floor Parking garage with below-ground parking, concrete construction, under an office or shopping center, elevators, stairs, etc.
    • Multi-floor Parking/Above Ground: A Multi-floor Parking garage with above-ground parking, concrete construction, elevators, stairs, etc.
    • Dairy Facility: A Dairy Facility is a production facility with temperature-controlled areas, clean areas, and specialty flooring (e.g., epoxy).
    • Other Building: Choose if the Building does not fit into any other type. Other Building types must be reviewed in expert Valuations.
    • Not Specified: Choose if the Building Occupancy is not specified. Not Specified must be reviewed in expert Valuations.
  • (Required) Building Client Declared Value: Enter the Building's Declared Value. The Building Client Declared Value is the total cost of rebuilding the property. The risk of a building and portfolio can only be accurately assessed if the Building Client Declared Value is accurate.
  • (Required) Local Currency: Select a Local Currency from the dropdown menu. The Local Currency is applied to the Building Client Declared Value field. The Local Currency field will default to the user-defined currency selected during the system setup.
  • Reporting Currency: Select a Reporting Currency from the dropdown menu. The Report Currency is applied to the Building Client Declared Value on all reports. The system will use the Local Currency when displaying the Building Client Declared Value field on reports if a Reporting Currency is not selected.
  • Listed: Indicate whether the building is listed as a historical or heritage building by selecting either the Yes (historical) or No (not Historical) buttons. Historically listed buildings are best suited to be valued by an expert.

2. Fill out the following fields under the Construction Details section:

Construction Details Section

• • Frame Type: Select the building's Frame Type from the dropdown menu. If more than one Frame Type is used, select the predominate Frame Type unless a more expensive Frame Type is used.
  • Wall Type: Select the building's Wall Type from the dropdown menu. If more than one Wall Type is used, select the predominant Wall Type unless a more expensive Wall Type is used.
  • Roof Type: 
  • Building Total Height: Enter the building's Total Height. The Building Total Height is calculated by measuring from the highest point to the lowest point of the Building. 
  • Average Floor Height: Enter the building's Average Floor Height. The Average Floor Height is calculated by dividing the building's total height by the number of floors.
  • Unit of Measure for Height: Select the unit of measure for Building's Total Height and Average Floor Height from the dropdown menu. The system will automatically default to Meters.
  • Sprinklers - % Covered: If the building has a functioning sprinkler system, enter the percentage of the building that the sprinkler system covers.

3. Fill out the following fields under the Address Details section:

Address Details Section

• • Country Name: Select the Country where the building is located from the dropdown menu. The Country Name field will default to the user-defined currency selected during system setup.
  • Region: A Region field will appear when selecting certain countries on the Country Name field. Select a Region to further pin point the building's location on the map. Regions represent different districts within a larger city.  
  • Location: Enter the building's Location in the Location field and select the Location from the dropdown menu. The Location will also appear on the Map below the Location field.
  • Would you like to use satellite imagery to estimate the gross floor area: Select the Yes button to allow the system to automatically calculate the building's GFA (Gross Floor Area) using Polygons on the Map, allowing users to draw an area (polygon) around a building, creating a building footprint. The system uses the building's footprint to calculate an estimated GFA for the building. Please refer to the Using Gross Floor Area Estimates on Maps article for further information.
  • Number of Floors: Enter the number of floors within the Building from the ground floor up.
  • Gross Floor Area: Enter the Gross Floor Area of the building without including commas. The Gross Floor Area is used to determine the building's replacement cost. The Gross Floor Area is calculated by multiplying the building's footprint by the number of floors (including the basement). For building with floors that are not the same size, you must calculate the area of each floor and add the floors together.
  • Footprint Area: Enter the building's Footprint Area. The Footprint Area is the land the building covers with its exterior walls.
  • Unit of Measure for Area: Select the unit of measurement for Gross Floor Area and Footprint Area from the dropdown menu. The system will automatically default to Square Meters.
  • Notes: The Notes field is a free-form field that allows a user to enter additional Building Valuation information.

4. Click the Create button to create the Building Valuation.
5. The Submitting Building for Valuation screen will refresh, removing the Create button and adding the Send for Automated Valuations button.
6. Click the Send for Automated Valuations button to send the building for Automated Valuation.

Send for Automated Valuations Button

7. The Automated Valuations function works best for building with the following criteria:
   • Building Client Declared Value is less than 50,000,000.00 in local currency.
   • Floors are less than 15 floors.
   • The Average Floor Height is less than 15ft.
   • Listed is no (not historical).

8. The completed Automated Valuation will appear on the Get Valuation screen under the Automated Valuation Complete section.

Automated Valuation Complete Section

9. If you completed creating a building without clicking the Create button but still need to submit the building for Automated Valuation. You can find your building on the Get Valuations screen under the Ready for Valuation sections.

Ready for Valuation Section