Insurance replacement cost valuation software for strata
An insurance replacement cost assessment estimates what it would cost to demolish, clear and rebuild a building to today’s standards, so the owners corporation is neither underinsured after a fire nor paying premiums on a figure that is too high. The assessor inspects construction type, floor areas, finishes, common property improvements and site constraints, then builds the sum insured from rebuild cost plus demolition, professional fees and escalation.
Built for strata managers running teams of roughly 3–50 inspectors.
Sample Insurance valuation report
An illustrative excerpt. The site, readings and findings are fictional; the layout is yours to set.
Insurance valuation report
Replacement cost summary
- Scheme
- Fictional Gardens strata plan, 24 lots
- Construction
- Three-storey concrete frame, brick veneer
- Inspected
- 15 January 2026
| Component | Basis | Amount |
|---|---|---|
| Building reinstatement | 2,640 m² gross at assessed rate | Amount: $9,240,000 |
| Common property improvements | Pool, fencing, driveway, landscaping | Amount: $410,000 |
| Demolition and removal of debris | Including asbestos allowance | Amount: $620,000 |
| Professional fees | Architect, engineer, certifier | Amount: $1,020,000 |
Fields captured on site
Your firm builds the form in-app, so these are a starting point rather than a fixed schema. Every field is captured on the device, with or without signal, and lands in the insurance valuation report where your template puts it.
Building
- Construction type
- Storeys
- Gross floor area
- Year built
- Quality of finish
- Photos per elevation
Common property
- Improvement
- Size or quantity
- Rate
- Cost (calculated)
Allowances
- Demolition and debris removal
- Hazardous materials
- Professional fees
- Escalation
- Recommended sum insured (calculated)
Standards the report works to
- Strata Schemes Management Act 2015 (NSW)Insurance obligations of owners corporations
- For NSW schemes, requires the building to be valued for insurance at regular intervals.
Load the standards you hold into your reference library and the drafted prose is written against them rather than against a general model.
How the insurance valuation report gets built
Capture it once, offline
Your firm builds the replacement cost assessment form in-app — 25 field types, nesting repeatable groups, compound AND/OR visibility rules, reusable modules and calculated fields. Field capture works with no signal: jobs, forms, photos, notes and audio all queue in an idempotent outbox that only clears once the server confirms receipt.
Link it to your buildings, levels and tenancies
Enter buildings, levels and tenancies once, as a register. Every one of your elements, defects and cost lines then points at a stored row rather than a name somebody typed — and the links survive a disconnected device.
Render your own template
The insurance valuation report renders into the Word template you already use — your letterhead, your section order, your clause library — with conditionals, loops over repeats, composable sub-templates and photo grids.
Reviewed before it leaves
You write the review framework: a checklist of what a insurance valuation report must contain, plus the prose standards you would mark a junior against. Link it to a report template and it runs every time that template renders. Each finding comes back graded info, minor or major, quoting the sentence at fault, and a person accepts or dismisses every one.
Because the structured submission behind the report is held too, the review is a comparison rather than a proofread: The narrative calls the roof "fair"; the element register grades it C with a twelve-month cost line against it.
Checks a commercial property framework usually carries
- Every graded defect carries a cost band and a priority
- The make-good schedule and the narrative describe the same condition
- Access and DDA non-compliances cite the clause they fail
- Every photo referenced in the text exists and is captioned
Questions
- Can the sum insured add itself up from the components?
- Yes. Calculated fields total the reinstatement, improvements and allowances, so the recommended figure updates as the assessor adjusts any line.
- Can we revalue the same scheme in later years?
- The scheme and its improvements are stored, so a later revaluation can start from the same component list and update rates and observations.
- Can the report state the assumptions behind the figure?
- Your template carries your standard assumptions and exclusions, and per-job notes such as hazardous materials observed are pulled in from the form.
What this is not
Worth knowing before you book a demo, so neither of us wastes the half hour.
- Not field-service dispatch. No timesheets, no parts, no inventory. Scheduling exists to get an inspector to a site.
- No signature capture. If your deliverable has to carry a signed sign-off on the artefact itself, this is not the tool yet.
- Field capture is what works offline — jobs, forms, photos, notes and audio. Reports, chat, scheduling and the inbox need a connection.
- No client portal. Reports go out as a file or a password-protected link.
Other commercial property work we cover
- Fit-out compliance inspectionsFit-out compliance report
- Indoor air quality assessmentsIAQ report
- Legionella risk assessmentsLegionella risk report
- Lift registration inspectionsLift inspection report
- NABERS energy auditsEnergy rating evidence pack
- Roof condition surveysRoof survey report
- Signage condition auditsSignage register
- Sinking fund forecast inspectionsMaintenance forecast report
Other disciplines
Rebuild your insurance valuation report in SurveyThanks
Bring the Word template you already send clients. If you are coming off another field-forms tool, a filled report can be uploaded, read field by field, and re-rendered into your template.