Statement of values updates, reconciled against the rent roll, the building list and the last appraisal.

The insured sends back last year's statement of values with a few changes, or the property manager sends a new building list that uses other names for the same buildings. Someone then checks it line by line against the rent roll and the last appraisal: address, construction class, year built, unit count, square footage, roof, electrical and plumbing update dates, sprinkler status. Buildings get added, sold, merged or renamed in between.

For the test, AI reads copies of those documents and drafts a reconciled schedule for each closed renewal: every field with the source it came from, every place two sources disagree, and every field no source supports. It fills nothing in by inference and sets no value. Your reviewer sets each draft beside the schedule that actually went to the carrier.

The construction class is rarely written where you need it. ISO's codes turn on walls, floors and roof, so brick veneer over wood is still Code 1 frame, and modified fire resistive stops where a two-hour rating begins. A Texas State Office of Risk Management sheet maps those codes to building code types: Types IIIA, IIIB and IV all land in ISO 2, and metal siding fixed to wood members makes the building Type VB, which is frame. When one document gives a building code type and another uses an appraiser's own words, the draft quotes each source and marks the conflict. It picks no class.

Update dates hide inside single boxes. One insurer's building update supplemental, its 01-23 edition, asks whether wiring was fully updated and in what year, then the age of the oldest wiring still in the building and how much of it is that old, whether Federal Pacific or Stab-lok equipment is present, how much is aluminum or knob and tube, what share of water pipe is copper, PVC, galvanized steel or lead, and how many roof layers exist, with four recent photos, two inside and two outside. Another insurer's habitational supplemental wants the year built of the oldest building and a sprinkler answer of all units, common areas only or no. A complex built in three phases has one truth per building and one box on the form, so the draft holds these fields line by line, with the invoice or letter behind each date.

Every value has a source, and the sources differ. Section 501.01B of Fannie Mae's Multifamily Guide accepts the appraisal or other reliable sources for estimated insurable value, listing the insurer's own estimate, an appraiser's figure, a reputable commercial contractor and a specialist vendor, and Section 501.01A lets roof coverage sit on an actual cash basis while the rest is on replacement cost. Freddie Mac's Chapter 31 calls insurable value an estimate of the most it would take to replace, repair or reproduce a property, land excluded, and says using the insurer's own estimate helps reduce disagreements about coverage if a claim is filed. HUD's 1983 Mortgagee Letter 83-24 starts from the insurable value on Form HUD-92329, the Property Insurance Schedule, and accepts a yearly update for construction costs by the mortgagor, the insurance agent or the mortgagee, using a recognized building cost index. Each draft line names whose number it is and how old.

A condominium schedule starts with who insures what. Florida's section 718.111(11) says an association's replacement cost must be determined at least once every three years and may rest on an independent insurance appraisal or an update of one. It also says the association's policy leaves out floor, wall and ceiling coverings, electrical fixtures, appliances, water heaters, water filters, built-in cabinets, countertops and window treatments inside a unit and serving only that unit, which fall to the unit owner. So the appraisal date is a field, and the draft notes what an appraisal says it left out. Section 718.112(2)(n) lets the owners of a high-rise condominium vote to forgo the sprinkler or engineered life safety retrofit, and that vote takes effect when a certificate is recorded in the county's public records, so the file behind a line saying no sprinklers may be a recorded document. These are short summaries, not legal or insurance advice.

Wind and blanket limits add their own paper. In Florida, Citizens' Building Type II and III Mitigation Inspection Form covers buildings of four to six stories and of seven or more when an applicant in its Commercial Residential program seeks mitigation credits. It asks for the roof covering's date of installation, a terrain exposure category for each location and a photo of each attribute claimed, and stays valid for up to five years if nothing material changes. Its FBC Equivalent roof covering level accepts asphalt on a flat roof only if that covering is 10 years old or less, so the date belongs next to the roof line. The ACORD form titled Statement of Values is the ACORD 139; one agency system's help page says it creates that form only when the Blanket option, not Premise, is selected for premises information. Your reviewer checks whether the draft caught the building that moved, the date that doesn't match and the field nobody can support.

If your reviewer says yes, statements of values arriving for new renewals get the same reconciliation for about 30 days.

A licensed person approves each schedule before it goes to a carrier, and your desk sends it the way it does today.

Whether a second job follows is your decision, at its own price, with monthly support after that.