Links

Reinstatement valuations

Peace of mind that your buildings are properly insured.

The RICS Guidance Notes state, “Informal assessments of rebuilding costs are impractical and unreliable… The client must be advised to obtain a formal assessment.”

If your buildings are underinsured, some insurers will reduce the amount you can claim by the same percentage by which you are under-insured.

This could leave you many thousands of pounds short for any necessary building work.  If you over insure, your premiums will be higher than necessary for the whole life of the building.

Clearly it is important to insure your buildings for the correct amount, and many Chartered Building Surveyors have access to the most reliable and up-to-date information provided by the BCIS (Building Cost Information Service), which is a division of the RICS.

Building cost reinstatement valuations for insurance purposes can be prepared for residential properties or for non-residential buildings.

If you would like an approximate re-build figure for your home The Association of British Insurers has a free calculator.

For more information and free advice contact us on 01202 237377 or email info@sutherlandsurveyors.co.uk.