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Insurance Appraisals

Protecting What Your Strata Owns


When a loss occurs, your insurance appraisal isn't just paperwork — it's proof. The photographs, construction details, and documented values in your appraisal are what an actuary uses to determine your payout. A weak appraisal at that moment is too late to fix.

At Strata Reserve Planning, our Insurance Appraisals meet the requirements of the Strata Property Act and are prepared by members of the Appraisal Institute of Canada (AIC) — so your strata knows the report was prepared by qualified professionals.


What's Included in Your Appraisal

All insurance appraisals for Strata Corporations are standard 3 year programs, with a comprehensive inspection driven appraisal in the first year, and 2 annual updates through trending.

Every appraisal estimates the full Replacement Cost New (RCN) and covers:

  • All buildings — foundations, exterior walls and building envelope, roofing, interior finishing, elevators, electrical and mechanical systems, fire protection, and parking 
  • All common assets owned by the Strata Corporation, including furniture, appliances, and gym equipment 
  • Site improvements — roadways, driveways, landscaping, playgrounds, and fencing 
  • Bylaw endorsements accounting for changes to fire protection, parking, and accessibility requirements 
  • An allowance for Demolition and Debris Removal, so fire-damaged improvements can be cleared and new construction can begin

Is Your Insurance Appraisal Inspector a Designated Appraiser?


Many Strata Councils would be surprised to learn one of the largest insurance appraisal providers in BC does not use members of the Appraisal Institute of Canada (AIC). This is because the word "Appraiser" is not copyrighted, and anyone can call themselves an appraiser.

Both candidate and designated members of the AIC have automatic Errors and Omissions (E&O) insurance and follow the Canadian Uniform Standards of Professional Appraisal Practice (CUSPAP), which covers inspection standards and file retention rules. Our insurance appraisals are made by members of the Appraisal Institute of Canada (AIC) so Strata Corporations know they receive reports that qualified individuals prepared.

Check your last Insurance Appraisal, and confirm if the inspector was a professional Appraiser at aicanada.com - If not, who did yours?


The Problem With "Drive-By" Appraisals


Many insurance appraisal providers conduct a thorough interior inspection for the first report — then never go back inside. Subsequent renewals are done as "curbside" or "drive-by" reviews. The price looks attractive, but the risk is real.

Interior photographs are the proof of loss. Without them, your strata's claim is harder to substantiate. And a provider who skips interior inspections may also be failing the reasonable appraiser standard — meaning their own Errors and Omissions (E&O) insurance may not cover any liability for a shortfall in your claim.

We conduct proper physical inspections every time. We document construction details and take the interior photographs your strata needs to be protected — not just compliant.


Call us at 604-638-4960 or request a Proposal for an Insurance Appraisal that will protect you.