Normac's Publications
Expert opinions about insurance appraisals, standard insurable unit descriptions, their value, and implementation.
Determining Total Insurable Value and Understanding Fluctuations
There are many practical ways to measure the value of a condominium property in Canada, some being more useful than others in specific circumstances. For insurance purposes, the value of
The Importance of Insuring a Condominium to its Full Replacement Cost
There is an important reason why many Canadian provinces require condo corporations to have replacement insurance on their condominiums. This is to ensure owners are protected in the case of
Insurance Appraisals 101
WHAT IS AN INSURANCE APPRAISAL? A specialized report that provides an estimate for replacement cost value of a property. We call this Total Insurable Value (TIV). Property owners use the
Standard Insurable Unit Descriptions 101
WHAT IS AN SIUD? SIUD stands for Standard Insurable Unit Description A Standard Insurable Unit Description is an outline of all the standard finishings and fixtures of a condo unit based on original construction.