Horticultural Asset Management Develops New Product
Doug Cowles, executive vice president and COO of Horticultural Asset Management, Inc. (HMI), has announced that the firm has developed a revolutionary system and process for property owners that accurately determines replacement values for their trees and shrubs. Previously these valuable assets were not accurately accounted for as part of a property’s value and subsequently have not been fully protected through homeowner insurance policies.
HMI has created a scientific assessment process, the Horticultural Scientific Standard (HS²™), which provides property owners with a detailed breakdown of the replacement valuations for each tree or shrub on a property. The replacement values are included in HMI’s Horticultural Assessment. The assessment also includes full color photographs and detailed care instructions and plant descriptions authored by renowned horticulturist Dr. Michael Dirr. As part of the assessment process, information is gathered by trained assessors who determine the types, sizes and general health of trees and shrubs on a property and then provide this information to HMI to be used in the generation of the comprehensive assessment.
“Many property owners may not know the value of their trees and shrubs. It is common for a single tree to cost $25,000, $50,000 or more to replace. That is a substantial amount of assets to have unprotected,” said Cowles. “It is our goal that through the use of our assessments, property owners can fully understand the total value of their property and have the ability to protect against or recover from a loss of any of these valuable assets.”
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