Replacement cost
and insurable value
in Trois-Rivières
How much would it cost to rebuild your building in the event of a total loss? That is the question an insurable value report answers. An OEAQ certified appraiser is the qualified professional to calculate this cost with precision.
Three values, three realities
Market value
The price your property would sell for on the open market. Includes the land and reflects supply and demand.
Replacement cost (insurable value)
What it would cost to rebuild your building from scratch at today’s prices. Excludes the land, since land doesn’t burn.
Municipal assessment
Value set by the city to calculate your property taxes. The reference date is often several years old.
These three values are often very different from one another. A heritage home in downtown Trois-Rivières might have a market value of $300,000, a replacement cost of $450,000 (due to period materials), and a municipal assessment of $260,000.
Why you should know your building's replacement cost
Underinsurance: the hidden cost
If your building is insured for less than its reconstruction cost, the difference comes out of your pocket. On a $400,000 property, 25% underinsurance means $100,000 you must cover yourself.
Overinsurance: wasted money
Paying premiums on an amount higher than the actual replacement cost means overpaying year after year. An accurate appraisal optimizes your insurance premiums.
The co-insurance clause
If you are insured for less than 80% of the replacement cost, the payout will be reduced proportionally, even for a partial loss. A $40,000 water damage claim could be covered at only 60%.
Rising construction costs
Material and labour costs have risen significantly in recent years. An old estimate likely no longer reflects today’s reality.
Who needs an insurable value report?
Owners of older homes
Heritage homes in old Trois-Rivières and Cap-de-la-Madeleine have architectural features whose reproduction cost can be surprising: mouldings, period masonry, woodwork. Their replacement cost often exceeds what estimating tools predict.
Owners who have renovated
You renovated your kitchen, extended your house, or replaced the roof? These investments increase the replacement cost. If your insurance coverage wasn’t updated, you may be underinsured.
Condo syndicates
Condominiums must be insured at their total replacement cost. A professional report protects all co-owners and meets the requirements of Act 16 on preventive management.
Income property owners
Plexes and multi-unit buildings in Trois-Rivières represent a major investment. An insurable value report ensures your coverage truly protects your asset.
Commercial and industrial owners
Commercial and industrial buildings often have underestimated reconstruction costs, especially if they contain specialized components (cold rooms, mechanical systems, etc.).
Insurance brokers
A report signed by a certified appraiser allows you to recommend adequate coverage to your clients and document your duty of counsel.
How we calculate the replacement cost
Detailed inspection
We inspect every building component: structure, envelope, roof, mechanical systems (plumbing, electrical, heating, ventilation), interior and exterior finishes.
Reconstruction cost estimate
Based on the data collected, we estimate the cost of rebuilding the structure at current prices: materials, labour, professional fees, and related costs.
Depreciation analysis
We apply physical depreciation (wear), functional depreciation (outdated design), and economic depreciation (external factors) to calculate the net replacement value.
Report delivery
You receive a detailed report, signed by an OEAQ certified appraiser, to submit directly to your broker or insurance company.
“Don't discover that your coverage is insufficient the day disaster strikes. Get your replacement cost established now.”
Éval+ | Certified Appraisers OEAQQuestions about insurable value
What is the difference between this page and the Act 141 page?
The Act 141 page explains the legal framework governing insurance in Québec. This page focuses on the practical service: calculating your building’s replacement cost to optimize your insurance coverage.
How often should I update my report?
We recommend an update every 3 to 5 years, or after major renovations. Construction costs fluctuate and your coverage should keep pace.
Does the report include the land value?
No. Insurable value covers only the cost of rebuilding the structure. The land is not destroyed in a loss event and is therefore not insured.
Will my insurer accept this report?
Yes. A report signed by an OEAQ certified appraiser is the most reliable and recognized reference by all insurers in Québec.
Do heritage homes in Trois-Rivières cost more to insure?
Often, yes. Period materials and construction techniques are more expensive to reproduce. An accurate report prevents surprises in the event of a claim.
Know the true replacement cost of your building
Receive an insurable value report signed by an OEAQ certified appraiser in Trois-Rivières. Response within 24 hours.