OUR MANITOBA EXPERIENCE
It’s true that Manitoba hosts a large portion of Canada’s agricultural land, but Winnipeg is a dense and vibrant centre, where the urban communities are full of history and spirit. Already familiar with both Canada’s prairie provinces and economic hubs, Normac is aptly positioned to serve the condominium, commercial, and industrial markets of Winnipeg and its neighbouring municipalities.
MEETING MANITOBA’S NEEDS
The Condominium Act of Manitoba mandates an appraisal from all corporations for the purpose of calculating replacement cost. This insurance must cover any loss caused by major peril, including “fire, lightning, smoke, windstorm, hail, explosion, water escape, strikes, riots or civil commotion, impact by aircraft or vehicles, vandalism or malicious acts.” The Condo Act further states that the coverage must also include costs associated with bringing the building up to current codes, bylaws, or other modern construction standards.
We believe that an insurance appraisal is an integral and necessary tool to assist condominium owners in determining adequate coverage with their insurers. Normac offers a three-year appraisal program ensuring compliance and peace of mind for all condo corporations. Our valuations incorporate costs for demolition and removal, rebuild using current standards for materials, building codes, and provincial and municipal bylaws, and also allows for professional fees and taxes, resulting in an accurate and reliable replacement cost value.
Normac’s broad experience is not limited to residential, multi-unit developments. Our knowledge base covers industrial buildings, manufacturing plants, places of worship, heritage buildings, unique properties, and more. This allows us to serve virtually all industries and communities across the country. No matter where you are located, or what kind of property you have, we are the go-to company for replacement cost reports.
OUR MANITOBA COMMITMENT
As an industry leader, we believe in supporting the education and collaboration of our clients and industry members. As such, we are a proud member of the CCI Manitoba Chapter.