Reinstatement Cost Assessments
Our experienced Building Surveyors have widespread knowledge and the expertise required to provide an accurate Reinstatement Cost Assessment (RCA) of your property, ensuring you have the correct level of cover and the property is adequately insured.
This is to establish the rebuild value of a property to return it to its original state if it were to be completely damaged or destroyed, and prevents potential claim shortfalls if the property is under-insured, meaning you can avoid increased premiums due to over-insurance.
Reinstatement Cost Assessment
Why do you need a Reinstatement Cost Assessment for your property?
Having an accurate assessment of your building’s restatement cost will determine the level of insurance coverage you require in the event of damage or loss of your property.
What does the process involve?
A site visit will generally be undertaken by one of our Building Surveyors to gather information and obtain measurements to confirm the areas of the property. We utilise relevant and up to date building cost data to accurately establish the rebuild value of your property.
The inspection and Reinstated Cost Assessment report provided are carried out in accordance with the RICS Guidance. We recommend that full RCA’s are undertaken every three years with a desktop assessment completed on an annual basis to account for inflation.
The assessment takes into account the following:
- Design of the building
- Construction methods and materials used
- Location factors (Listed Building, Conservation Area etc.)
- Potential demolition and site clearance
- Special features (bespoke finishes and high end installations)
- Professional fees (Architect, Structural Engineer, Building Surveyors etc).
