ICAP Loss Control partners with Valuations Northwest, a professional appraisal company, to assist with property valuation reviews for our members.
Through this program, members with historical buildings, water plants, and wastewater treatment plants, as well as all buildings valued at more than $100,000, are automatically selected for a review and appraisal of all entity-owned property.
This program assists members and agents in the identification and valuation of property and structures, and by helping members maintain building values for their accounting and property records.
The valuation process occurs in several steps, including an on-site inspection in which physical measurements and a walk-through of every building is completed. Once the valuation process is complete, ICAP will work directly with the member and agent to develop a long-term strategy in order to ensure the best possible coverage program for the entity.
The valuation program has proven invaluable to both ICAP and its members by resulting in the discovery of more than $40 million of uninsured and underinsured property in just its first year of service!