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Condominium Master Insurance Policy

When do I need an appraisal?  

Florida law requires residential condo associations to maintain an Insurance Appraisal that is no more than (3) years old.

CFAC has performed hundreds of Insurance Appraisals over the years for condominiums located throughout central Florida.  


4K Video


We supplement still photographs with a narrated high definition 4k video at no extra charge.  The video is included in the low base fee of around $2,000 for most condominiums.   Due to the large file size, we send a flash drive vis U.S. Mail. 

"Property Express" 

Core Logic developed an industry standard software called "Property Express" which produces a "Detailed Valuation Report".  We subscribe to this internet-based software.

Sample Reports

We are happy to send a Sample Insurance Appraisal upon request.

Why Reconstruction usually cost more than new construction

(from Central Insurance Companies)


Economy of Scale –

When a contractor has many homes under construction at once, materials can be purchased in large quantities for delivery as needed – everything from framing lumber to plumbing fixtures. If you buy a large number of bathtubs, for example, suppliers will compete for your business and offer price discounts. When you buy just one bathtub, and it must be a match for one that’s been destroyed, it will nearly always cost much more than if it had been part of a larger purchase. This holds true for almost everything that goes into a home and this factor alone can push the cost of rebuilding thousands of dollars higher than the cost for comparable new construction. “Top-Down” vs. “Bottom-Up” –


New construction begins at the foundation and builds upward. Repairing a house that isn’t totally destroyed often means removing the roof and rebuilding from the top down, a far more time consuming and labor intensive procedure. Demolition and Debris Removal – New home construction normally begins on open ground, perhaps with some brush removal and grading and other minor site preparation.


Rebuilding begins with a partially or totally destroyed structure occupying the building site. Parts of the structure may still be standing but unusable, requiring demolition and removal. The site may have to be extensively cleaned – after an intense fire, for example, the soil may be contaminated. The foundation may have been damaged beyond repair. A lot of work is usually required before the first cement can be poured or the first nail hammered in.


Use of Labor: When a new home builder has several houses under construction, even if they aren’t all in the same area, work can be scheduled for the most efficient use of carpenters, plumbers, electricians, and other workers. If one house isn’t ready for wiring, the electrician can probably work on another. When only one home is being built, the same kind of efficient scheduling is rarely possible. Labor normally accounts for the largest share of homebuilding costs.


Access to the Worksite

When new houses are under construction, there is usually no landscaping, allowing easy access to the site. Materials can be driven directly up to any side of each structure as needed. When a house is being rebuilt among existing homes, there are trees, shrubs, lawns, flowerbeds, fences and other obstructions limiting access. Materials often have to be off-loaded further away and hand carried to where they’re needed. This factor is compounded if the building site is on sloping ground. The impact on labor costs can be significant.

Special Features & Unusual Materials 

Older homes and homes that have been extensively remodeled often have customized features or include materials not commonly found in homes being built today. These features and materials can be very expensive, if not impossible, to duplicate. Examples include slate or tile roofs, lath & plaster walls, coved ceilings, wainscoting, solid (instead of hollow core) doors, custom ironwork, ornamented fireplaces, exposed beam ceilings, stained glass or other leaded windows, curved staircases, slate or tile floors, and other items.

from Merlin Law Group

Required Insurance Appraisals for Florida Condominium Associations


By Shane Smith on December 13, 2017


For many condominium association boards of directors, the fall months are considered “budget season” because this is the time the board members and property manager work together to produce a budget for the start of the new fiscal year in January. While condominium association budgets address a variety of things, property insurance is one significant line item that cannot be overlooked.


As part of property insurance, one item that all Florida associations must consider for their budgets is the cost for an insurance appraisal that determines the “full insurable value” or “replacement cost” of the association property.

Florida Statutes 718.111(11)(a) requires all condominium associations to have “adequate” hazard insurance. To comply with the statute, a condominium association is required to have an insurance appraisal of the condominium property at least once every 36 months (3 years):

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