Valuer re-echoes need for property insurance | Dailytrust

Valuer re-echoes need for property insurance

Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Abuja Branch, Ikenna Lansar Aghaji, has re-echoed the need for property insurance.

Speaking to Daily Trust, he said the recent EndSARS protest that turned violent led to the destruction of various properties, noting that those without genuine insurance may suffer.

“It is important to note that when insurance valuation is done, the value of the land is not inclusive. It covers reinstating whatever is on the land that is destroyed, damaged, burgled, etc.

“It is only the Estate Surveyor and Valuer that has the right by the law to give value to property for all purposes. Valuation of property is a prerequisite to taking a property insurance policy.”

Aghaji said insurance policies can be done to cover for fire, natural disaster, and burglary of property.

“It is advised at this time of chaos, uncertainty, looting, and destruction of property, that people, as a matter of urgency, should value their property which will be used for insurance and reinstatement purposes if affected.”