Working with your broker to reflect current property values is essential. Without accurate appraisals, many special districts are experiencing shocking premium increases and forced changes in coverage, limits or deductibles.

Underwriters want answers to these critical questions:

  • When was the last time your risk's values were appraised?
  • Have inflationary increases been applied to your property values?

As Gallagher's Alexandra Glickman and Robby Kunz noted in a recent Business Insurance article, property values that are underreported, incomplete or incorrect put your special district's property insurance at risk — and can result in increased deductibles, higher retentions, tighter terms and conditions and higher rates.

In our latest whitepaper, Protect Your Operations with Accurate Property Valuations, Gallagher's property experts dive deeper into the importance of accurate valuations and the benefits of having a recent appraisal on hand.

Download the whitepaper and connect with our team by completing the form below.

Disclaimer

The information contained herein is offered as insurance Industry guidance and provided as an overview of current market risks and available coverages and is intended for discussion purposes only. This publication is not intended to offer legal advice or client-specific risk management advice. Any description of insurance coverages is not meant to interpret specific coverages that your company may already have in place or that may be generally available. General insurance descriptions contained herein do not include complete Insurance policy definitions, terms, and/or conditions, and should not be relied on for coverage interpretation. Actual insurance policies must always be consulted for full coverage details and analysis.

Insurance brokerage and related services to be provided by Arthur J. Gallagher Risk Management Services, Inc. (License No. 0D69293) and/or its affiliate Arthur J. Gallagher & Co. Insurance Brokers of California, Inc. (License No. 0726293).