Owners corporations & body corporates
Is your building sum insured still current?
A property-specific strata insurance valuation gives committees, managers and advisers a clearer basis for renewal and underinsurance discussions.
Objective quantity surveying assessment using recognised methodology, current construction cost data and professional judgement.
A clearer renewal basis
Prepared for the property and intended use—not carried forward from a generic template.
Why review the figure?
Market value is not the cost to rebuild
A strata property has shared assets, services and rebuilding conditions that may not be reflected by market value or broad indexation. The assessment needs to consider the actual insured improvements and the circumstances of the property.
Shared building elements
Common property, facades, roofs, basements, lifts, services and external works can materially shape replacement cost exposure.
Rebuild conditions
Demolition, site access, professional fees, escalation and the practical conditions of rebuilding need considered treatment.
Property changes
Recent upgrades, major works and an older adopted valuation can make a fresh property-specific review worthwhile.
What the report supports
A professional basis for the insurance conversation
The report is designed to help the committee, strata manager, broker and adviser understand the assessed replacement cost and the assumptions behind it.
- Property and building description
- Replacement cost assessment
- Relevant allowances and assumptions
- Building services and access considerations
- Demolition, fees and escalation considerations
- Plain-English report summary
How it works
From property details to report delivery
Tell us the property details and report purpose.
Receive a clear quote, scope and document request.
We assess the property information and relevant cost or tax considerations.
You receive a professional, comprehensive report with supporting assumptions, inclusions, calculations and a clear summary for your records, broker, committee or adviser.
Request a quote
Tell us about the strata property
Provide the property and contact details, then upload available plans, schedules or existing valuation information. BWK Group will review the enquiry and confirm an appropriate scope and quotation.
Australia-wide service
Each enquiry is assessed on its own merits so the scope matches the property and intended use.
Quotation request
Send your details
Use this form to request a quotation for tax depreciation, insurance valuation, replacement cost or general quantity surveying reporting.
BWK Group methodology
Each enquiry is reviewed on its own merits. BWK Group prepares property-specific objective assessments—not templated reports—using recognised quantity surveying methodology, current construction cost data and professional judgement within the agreed scope.
Questions before renewal
Strata insurance valuation FAQs
Is market value the same as replacement cost?
No. Market value reflects the property market and land position. Replacement cost considers the cost exposure associated with rebuilding the insured improvements, including relevant allowances such as demolition, professional fees, escalation, access constraints and building services within the agreed scope.
Why can a strata building need more than simple indexation?
Indexation may not reflect the property-specific effect of common property, lifts, basements, shared services, demolition, access conditions, recent works or changes in construction costs. A professional assessment reviews the building and available information rather than relying only on a previously adopted figure.
Who can use the report?
The report can support owners corporations, body corporate committees, strata managers, insurance brokers and advisers when reviewing the building sum insured and discussing renewal decisions.
Does BWK Group work across Australia?
Yes. BWK Group is an Australian quantity surveying practice serving clients across Australia. The appropriate scope and property information requirements are confirmed as part of the quotation process.
Supporting a portfolio or advising a committee? Explore BWK Group services for strata managers and owners corporations.