Multi-Residential Insurance Appraisals

It can be hard to determine what’s suitable when many properties are either over- or under-insured. Appraised too high, and you could be paying an unnecessary premium. Appraised too low, and you may not be able to afford a rebuild in the event of a major loss. So, what do you do?

At Reliance, you and your property come first, and it is our philosophy that “you pay for what you need, and nothing more.”

For us, it’s all in the details, and accuracy and consistency is key when it comes to multi-residential insurance appraisals. Keeping your objectives in mind, our appraisals are backed by sound research, extensive experience and an in-depth understanding of our industry. Reports are all-encompassing, and document everything from superstructures and substructures, exterior and interior common finishes, mechanical systems, security, fire, safety, and a consideration of many other features including the latest building codes, fire codes and bylaws.

It is our goal to work with you to determine your objectives, and to show you the value of having a detailed and unambiguous report. When it comes down to it, our reports stand-up and stand-out, and are testified as having the highest quality and being the most trusted in the industry.

Our Residential Specializations include:

  • Apartment Buildings
  • Townhouse Complexes
  • Mixed Use Apartment – Townhouse
  • Mixed Use Apartment – Commercial
    • Bareland Properties
    • Home Owner’s Associations
    • Government Housing
    • Senior’s Lodging
    • Housing Co-operatives
    • Etc.

We’re well versed in the nuances of corporation bylaws, and have a variety of solutions to ensure that betterments and improvements are handled correctly and fairly for the corporation and the owners. Our reports are specifically designed so that you can make informed decisions and know that your property is correctly insured. Following our clear reporting, annual updates, reminder services and our dedication to providing the best customer service in the industry all add up to a simplified and easy approach for you, our customer. We focus on the details, so you can focus on your property.

Get your competitive quote today

Multi Res

Case Study


324 Unit Apartment + Townhouse-style Condominium

What was the challenge?

A BC appraisal company valued the property at $105 million. The property’s new insurer deemed this excessive, and approached us for a new appraisal and thorough review of the old one.

What was the solution?

Our thorough appraisal valued the property at $77.5 million. We also found more than a dozen errors in the old appraisal, including inaccurate building heights, incorrect square footage and improper labelling of ‘fully developed townhome basements.’ This drastically affected the final insurable value.

What was the value?

Our detailed appraisal report corrected the previous company’s errors, and lowered the complex’s value by $27.5 million. This meant that the corporation would save approximately $55,000 per annum on their insurance premium going forward.

The smart choice in Insurance Appraisals.

Commercial Insurance Appraisals

We consider each and every property unique in terms of utility, occupancy and desired outcomes. This means that, at Reliance, we approach each appraisal through a different lens, but with the same industry-leading experience.

When it comes to commercial insurance appraisals, flexibility is our mandate. As with our multi-residential insurance appraisals, our thorough and complete reports incorporate building improvements, site improvements, and the cost of demolition and debris removal in the event of catastrophe. This is in addition to the inclusion and application of the latest building codes, fire codes and bylaws so that the true cost of rebuilding is represented. Depending on your individual needs and requirements, we also have the flexibility to either include or exclude interior finishings and tenant improvements in the appraisal report.

Our Commercial Project Specialities include:

  • Commercial Office Buildings
  • Industrial and Manufacturing: Both Light and Heavy, Warehousing, Storage Facilities, etc.
  • Retail Occupancies: Strip or Mall, Restaurants, Showrooms, etc.
  • Resorts, Hotels, Motels, Lodges
  • Aircraft Hangars
  • Airport Infrastructure
  • Government: Buildings, Infrastructure, Water Distribution and Processing
  • Education: Schools, Colleges, Universities and Campuses
  • Recreational: Hockey Areas, Curling Rinks, Bowling Alleys, Private Health Clubs
  • Churches
  • Golf Courses and Subsequent Facilities
  • Automotive Facilities
  • Agricultural Facilities
  • Historic Buildings

We’ve conducted appraisals on many more commercial style properties, so call us today or submit an online quote request here to see what Reliance can do for you.


Case Study


A Hotel-style Lodge in Panorama, BC.

What was the challenge?

The complex was initially appraised by another company and insured at $6 million, which was deemed far too low for a resort of its quality.

What was the solution?

We performed a new appraisal and set about applying an accurate reconstruction costing to the property. This included site improvements, demolition and debris removal, and any new construction/fire code changes. The new appraised value was set at $9.5 million.

What was the value?

The complex unfortunately suffered a loss due to fire, which required a rebuild of the entire superstructure. The cost of reconstruction was $50,000 under the Reliance appraised amount, which meant that the strata was accurately insured.