ISO Updates Condo Replacement Cost Estimates

Ensuring adequate insurance-to-value has grown more important to insurers and homeowners alike as the 2006 hurricane season begins, due to the tremendous growth of condominiums in the United States, especially in the hurricane-prone coastal areas of Florida.

ISO HomeValue, a residential property replacement cost estimator developed by ISO subsidiary AIR Worldwide, has expanded its valuation capabilities to include replacement cost estimates for individual condominium units. Its web-based interface streamlines the replacement cost estimation process and strengthens the insurer-agency relationship. It also can be integrated with in-house and third-party applications, as well as with data sources from ISO.