In addition to reserve planning, Oakview provides independent insurance valuation reports to help condominium corporations maintain appropriate property coverage.

Boards often require third-party insurance valuations for several reasons.

• Reduce insurance costs – Sometimes properties are over-insured, resulting in unnecessarily high premiums. Our independent valuation reports can support requests to adjust coverage levels appropriately.
• Meet governance requirements –Many condominium declarations require directors to obtain independent replacement cost appraisals when changing insurers or periodically during ownership.
• Ensure adequate coverage – Condominium boards must maintain insurance sufficient to fully replace the property, often determined by the insurer’s Insurance-to-Value (ITV) requirement. With significant construction cost inflation in recent years, many properties need updated valuations to ensure their coverage remains compliant.
• Reports designed for underwriter scrutiny – Insurance providers frequently reject valuation reports that omit critical cost components.

Oakview reports are structured to meet underwriter expectations and include:

• Complete replacement cost estimates – Including building systems and all site improvements such as landscaping.
• Demolition and disposal costs – A separate estimate covering demolition and debris removal.
• Taxes included – Both replacement cost and demolition estimates include applicable HST.
• Detailed cost breakdown – Major building and site components are clearly itemized for transparency.