Update Program

Sedgwick | Valuation Services Division is pleased to offer our clients a program to provide annual updates on their Insurance Appraisal, Content Appraisal and/or Reserve Study for the next three years at a guaranteed annual fee. We designed the program in response to requests from our clients who want to know the current estimated insurance, content and/or reserve values for their property each year and want to plan in advance for the cost of the report. Since the inception of the program 10 years ago, we have had more than 80% of our clients take advantage of the Annual Update Program.

Benefits to the Property

• Having an annual update appraisal assures the property that it is properly insured to current replacement cost values.
• An annual update appraisal removes all liability from the management if the insurance coverage is incorrect and places that liability on Sedgwick | Valuation Services Division. Sedgwick | Valuation Services Division stands behind its valuations 100%.
• The cost of your new appraisal or reserve study is reduced when you enroll in the update program.
• The fee for each annual update report is fixed for three years.
• We automatically send the report to you each year (most clients ask to receive the update 60 days prior to their insurance renewal date).
• Obtaining an annual update demonstrates due diligence on the part of management, and board members to the owners or members of the property.

Here's How the Program Works

• Upon your request, Sedgwick | Valuation Services Division will provide a written proposal for an insurance appraisal and/or reserve study. Two fee options will be provided. Select the annual program option (second option) and the property will be placed in the annual update program.
• Upon receipt of your signed bid, your initial report will be prepared and sent to you, along with an invoice for the first year's report.
• Each year thereafter, we will automatically update your insurance appraisal and/or reserve study and send it to you with an invoice for that report only.
• We will continue to send annual updates and invoices each year for a total of three years. (It is the responsibility of the property management or ownership to advise Sedgwick | Valuation Services Division if any changes are made to the property between each insurance appraisal.)
• At the time of the third update, we will contact you to discuss renewing the program and/or re-inspecting your property.

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