Most of the real estate properties that can be insured are buildings. The valuation, specifically for use as insurance, will focus on Replacement Cost New (RCN) and Depreciated Replacement Cost (DRC), which may go deep into a separate appraisal between the base structure and the above-ground structure. This will affect the insurance amount and according to the building usage with more or less risky activities, as well as reporting of building components as a factor in determining various risks in terms of structural strength, refractory materials used, etc.
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