One of our bank clients is now requiring “Insurable Value” for each building within an appraisal. The Dictionary states that this value is often considered to be replacement (or reproduction cost) plus allowances for debris removal or demo, less deterioration and noninsurable (land?) items. I queried an insurance broker who said their data comes from MSB and is based upon replacement cost new with no factored depreciation. I found conflicting info on AI site and other threads. So, does anyone have a handle on Insurable Value. What else is or is not factored? Landscape/Hardscape, water/sewer lines, conduits, site lighting, etc? I'm also somewhat nervous that the client is placing the determination of an insurance product on the appraisal and opening another avenue for liability. Should there be language limiting the use of this value, as in, it's only good for the effective date? Thanks for the input. Thanks for any input.