Connect the policy to the property
A statement of values is more than a list of addresses. It should distinguish buildings, business personal property, inventory, machinery, tenant improvements, income, construction, occupancy, protection, and catastrophe details. Consistent data supports valuation, limits, modeling, and faster underwriting review.
Risks to review
- Locations, buildings, or property categories omitted
- Values combined in a way that hides concentration
- Construction, occupancy, protection, or exposure information outdated
- Schedule totals that do not reconcile with requested limits
Information to prepare
- Street address and building identifier for every location
- Building, contents, equipment, stock, improvements, and income values
- Construction, occupancy, square footage, year built, and system updates
- Sprinklers, alarms, hydrants, roof details, flood data, and prior losses
Frequently asked questions
Why separate building and contents values?
Ownership, valuation, deductibles, coverage forms, lender interests, and loss behavior may differ. Clear categories help the policy match the property.
How often should a statement of values be updated?
At least for each renewal and whenever acquisitions, disposals, renovations, equipment, occupancy, inventory, or income materially change.
Coverage descriptions are general. Eligibility, availability, limits, deductibles, valuation, exclusions, and policy terms vary. Actual policy documents control.