Valuation 

Attribute 

Definition 

Total Insured Value (TIV) 

The maximum insurance coverage if an insured asset is completely destroyed. It represents the combined, total replacement cost of buildings, contents, equipment, and business income. 

Replacement Cost Value 

The amount it would cost to repair or replace a damaged, destroyed, or stolen asset with a brand-new equivalent of similar kind and quality at current market prices. It does not deduct for depreciation. 

Building Value 

The building replacement cost, which includes building value, improvements and betterments, and any miscellaneous building replacement costs. 

Improvements / Betterments 

Total replacement value of the main buildings or structures at the location. 

Misc. Building Replacement Cost 

Building replacement costs not included in building value or improvements and betterments. 

Replacement Cost per Floor Area Unit 

The replacement cost divided by floor area (RC in USD; Floor Area in Square Feet). 

Contents Replacement Cost 

Assigns a value to the contents of a property such as inventory, furnishings, and equipment. 

Inventory 

Refers to the physical goods, merchandise, and materials a business holds. 

Machinery / Equipment 

Assigns a value to the machinery and equipment in the building. 

Electronic Data Processing Equipment 

Total replacement value of electronic data processing equipment in the building. 

Fine Art / Jewelry 

Indicates the presence and value of fine art and/or jewelry on the property. 

All Other Contents 

A value not included in the other content replacement cost categories. 

Misc. Contents Replacement Cost 

Includes all items not included in the other replacement cost categories. 

Business Interruption Cost 

The financial losses and extra expenses a business incurs when forced to temporarily suspend operations due to a covered disaster, such as a fire, severe weather, or vandalism. 

Business Income 

The total earnings generated by a company through its regular operations, minus business expenses, costs of goods sold, and taxes. 

Ordinary Payroll 

Refers to the wages, salaries, and benefits of a company's general, non-essential employees. 

Annual Base Rent 

The foundational, fixed amount a tenant pays a landlord for the right to occupy a property over a 12-month period. 

Annual Estimated Rent 

The projected total amount of lease payments expected to be collected from a property over a 12-month period. 

Annual Gross Profit 

The total revenue a business earns in a 12-month period, minus the direct costs required to produce or provide those goods and services. 

Annual Loss of Revenue 

The decline in a company's total sales over a 12-month period. 

Annual Service Charge 

A yearly, recurring fee collected to cover the costs of managing, maintaining, and repairing shared facilities or services. 

Extra Expense 

Extra or supplementary costs incurred beyond a base price, budget, or standard baseline. 

Misc. Business Interruption Value 

Miscellaneous financial losses and extra expenses a business incurs when forced to temporarily suspend operations due to a covered disaster. 

Receipts – Alcohol 

The annual receipts or revenue generated from alcohol for hospitality/restaurant operations at the property, measured in currency. 

Receipts – Food 

The annual receipts or revenue generated from food for hospitality/restaurant operations at the property, measured in currency. 

Receipts – Miscellaneous 

The annual receipts or revenue generated from miscellaneous sources at the property, measured in currency. 

Receipts – Room 

The annual receipts or revenue generated from room occupancy for hospitality/restaurant operations, measured in currency. 

Exchange Rate 

The rate used to convert valuations (such as Total Insured Value) from a property's valuation currency to the display currency configured for the organization. 

Exchange Rate Date 

The date on which the exchange rate attribute was quoted from a given data source. 

Last Valuation Date 

The date that the property valuation was last updated. 

Rent and Service Indemnity Period 

The length of time the insurance company is obligated to make payments to cover losses insured under the policy (e.g., 12, 24, or 36 months). 

Replacement Cost Methodology 

The methodology used by clients to calculate the replacement cost of the building. 

Valuation Currency 

The platform supports only USD values for this attribute.