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Commercial Lines Bulletin

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New Resource for Appraisals and Alternative Valuation Requirements

May 26, 2016

Citizens has updated its appraisal and valuation requirements resource to assist commercial lines agents to:

  • Ensure all properties meet Citizens’ requirement to be insured at 100 percent of their replacement value.
  • Continue the effort in making certain that all Citizens’ risks use consistent and accurate valuation methods.

This resource, Commercial Lines Valuation Requirements, is located under the Spotlight section on each commercial line-of-business page on the Agents site. Highlights of this resource are outlined below.

Citizens accepts appraisals and valuation reports that are less than a year old and completed by licensed appraisers or other qualified professionals:

  • Appraisals by qualified Florida-licensed residential or general appraisers: Include the appraiser’s name and license number in the appraisal.
  • Alternative valuation reports by other qualified professionals who have related experience: Include the following signed statement with the valuation:

Screenshot of the required statement for other qualified professionals
Figure 1: Required statement for other qualified professionals



Florida licensed appraisers and other qualified professionals must use software designed for insurance replacement-cost purposes (e.g., Xactware 360Value®, Marshall & Swift Commercial Estimator®) and be the most current version of that tool. Manually calculated estimates and appraiser developed spreadsheets cannot be accepted.



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Agent Bulletins are provided for historical purposes only and have not been updated to include any changes that may have been made after publication. Agents can find the latest information by reviewing the applicable underwriting manuals and by logging in, then selecting Search → Search Frequently Asked Questions

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