Assessment of Insurance Cost of Religious historical and Cultural Monuments

Abstract

The article discusses the problems associated with the protection and evaluation of the St. Petersburg-monuments of architecture buildings, which are under state protection, with appropriate protection status - «a monument of history and culture». We also consider the technical issues be included in the market value of the property factor «historical reputation» with three classical approaches to evaluation - cost, income and comparative. Of particular interest is the formation of a project cost of insurance for the purpose of St. Isaac’s Cathedral, included in the list of UNESCO World Heritage sites. In the absence of a proper valuation of methodical maintenance of monuments article authors try to construct an algorithm and a procedure for determining the insurance value of St. Isaac’s Cathedral.

Keywords

• saint isaac’s cathedral
• architectural masterpiece
• historical and cultural monument
• the list of unesco world cultural and natural heritage
• property values
• property rights
• cost types
• real estate valuation
• bundle of rights
• approaches to business valuation
• protected status
• insurance cost