Mirfin
Insurance in Johannesburg

Mirfin was born out of necessity: In the past, when a valuation was needed, the help of the bank was called in, as few people knew offhand of a valuer and the municipal valuer fulfilled a different function.
We are not a provider of electronic valuations, as these do not take into account the individual value assets of a building and reflect only the brick and mortar value of a realty.
Mirfin, until recently having offered its valuation service to the general public and real estate agents in the greater Johannesburg area only, has contracted the services of professional, certified valuers in every remote corner of South Africa and now offers a countrywide valuation service.
Mirfin valuations are executed physically on site by accredited professional valuers.
A further development is our replacement cost assessment service for insurance purposes which is particularly beneficial to Sectional Title complexes in terms of the Sectional Titles Act.

the replacement value of the buildings and all improvements to the common property; and. All our insurance valuations include a basic survey of potential insurance risks and maintenance issues with photographs of the property and its improvements. In determining the replacement cost of a sectional title scheme, the valuer assesses the common property items and the standard units as completed by the developer. In the context of buildings insurance, an upgrade constitutes an extension, addition or improvement which results in an increase of the unit’s size or quality standard and hence its replacement value. Each unit owner is responsible to report the replacement cost of any upgrades to their units that they wish to be insured to the trustees. Our building cost escalation report is more affordable than a valuation update and it reflects the national average increase in building costs for the past, current and upcoming year. This service is, however, not covered by our professional indemnity insurance and sectional title legislation requires that a physical valuation is performed at least every three years. It is important to sufficiently cover a building because if a building is found to be underinsured the insurer will subject the claims to averaging. A contents valuation is also practical for companies or auditors compiling accurate financial reports regarding asset utilisation, asset depreciation and maintenance. It can also play a major role in determining a company’s market value. Important: Any high-value items not presented to the surveyor or for which no certificate of value is made available, will not be covered by your insurer. The surveyor will also photograph the exterior of your building. Determining fair compensation for land expropriation under the Land Restitution Act. Most property owners only become aware of their updated valuations once they receive their first new rates invoice. If an objection is not lodged during the advertised objection period there is very little prospect of having the municipal valuation amended, except in special circumstances. Mirfin provides a comprehensive survey covering all risk aspects of a property. These include the state of maintenance, security, electrical compliance, fire protection, lightning protection, gas installations and natural hazards (e.g. flooding by nearby bodies of water, veld fires, earthquakes etc.). Helping to avoid unnecessary maintenance costs and expensive law suits. We work hard to conclude each survey in the minimum amount of time required. Our specialised thatch risk survey is an extension of the property risk survey. This survey assesses the type, construction, age, condition and size of a thatched roof. Vehicle inspections are conducted on behalf of the insurance carrier to determine the insurability of passenger vehicles, commercial vehicles, agricultural vehicles, vintage vehicles and non-motor vehicles such as caravans, trailers and boats. The GIS Risk Report is a compilation of bird’s-eye views, various GIS maps (Geographic Information Systems) and local statistics on the occurrence of lightning strikes, fires, flooding, earthquakes, crime etc. It offers a low-cost automated risk analysis of a property and its environment and augments our insurance valuation report.