We began our five-part series on property valuation by detailing two principles of property insurance - indemnification and the broad evidence rule. From there we discussed the values assignable to property from an insurance perspective including actual cash value and replacement cost. The true application of replacement cost, optional property insurance values and gaps in the application of replacement cost and the insured's understanding of replacement cost rounded out our discussion.

The Property Valuation Checklist is available for your use to trigger discussion and assure that you have the necessary information to help you work with your insured in planning proper coverage limits.

Property Valuation:

1. Insurance Rules For Valuing Damaged Or Destroyed Property
2. Replacement Cost Violates Indemnification Rule
3. Replacement Cost Not Always 'Replacement'
4. When Government Strikes - Ordinance Or Law
5. Property Value Options