LOSS OF MARKET VALUE
Protecting your assets
There’s an assumption you will have your property for as long as you choose to own it. But if a disaster strikes and you need to rebuild, what happens then?
In most cases, your Property Insurance will cover any damage. But if changes in town zoning laws occur, you may not be able to rebuild in the same location or rebuild the current number of Lots.
Loss of Market Value insurance
Loss of Market Value protects in a total loss situation where your building was unable to be rebuilt due to changes in town zoning laws.
As Loss of Market Value insurance is a strata insurance extra and comes at an additional cost, some strata managers are not sure if the cost is worth it.
Lync Insurance can discuss this cover with the strata company and strata manager to ensure that all parties understand the cover to decide if it is required.