A valuation is a simplified valuation and therefore does not have the status of an expert valuation.
Although the calculation method is the same as that of an expert valuation, the report of a valuation is concise and in fact only intended for an insurer or affiliated party. This method of valuation is intended to provide a realistic indication of the interests to be insured as cost-efficiently as possible. The outcome of a valuation can therefore not be used as an expert valuation in accordance with article 7:960 BW.
How does this work in practice? In the event of damage, a loss adjuster will assess whether the insured amount is correct. (In the case of an expert valuation, the value of the valuation report applies). If the loss adjuster arrives at a different conclusion than the appraiser, the underinsurance scheme can be applied.
However, the insurers we work for agree not to apply the underinsurance scheme if the value is based on a valuation carried out by us. They then provide a guarantee against underinsurance! A sense of security.