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Is the building insurable?

Question: 
How do you know if a low value building has an insurable value? Do you determine this by determining if it is insured on the borrower’s hazard policy?
Answer: 

Every building has some value and there are many ways to determine a building’s insurable value. You could look at the Replacement Cost Value (RCV), the Actual Cost Value (ACV – cost approach), the amount of hazard insurance in place on the property, the functional building or demolition/removal cost to name a few.
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Learn more about Jerod Moyer and David Dickinson’s webinar
Part I - Flood Insurance Compliance - A Two-Part Companion Webinar Series

First published on 07/23/2017

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