Insurance Reinstatement Cost Assessment
This assignment involved a detailed inspection and assessment of a 7 storey, split level apartment block in Portishead. The purpose of this assessment was to provide an updated reinstatement cost for insurance purposes, so the property owners and their insurers have an accurate and up to date valuation to cover the full cost of rebuilding the property from scratch if needed.
As per industry standards, our reinstatement cost assessment was prepared on a Day One basis. This means the valuation reflects the full cost of rebuilding the property as if the loss occurred on the first day of the insurance policy, including inflation and potential changes in building regulations over the policy term.
Accurate Valuation
We used the latest Building Cost Information Service (BCIS) cost data to ensure our assessment was accurate. BCIS is a well respected and widely used source of construction cost information in the UK, providing up to date and regionally adjusted data to reflect current market conditions. By using BCIS data we were able to produce a valuation that is both accurate and current.
Peace of Mind
The reinstatement cost assessment was completed quickly and delivered to the client in a clear report. The client now has peace of mind that their insurance is based on a precise and current valuation, so they are fully covered in the event of a major loss.
Protecting your Asset
This example shows our experience in reinstatement cost assessments for all types of property, from residential apartment blocks to commercial office buildings. Our accuracy, industry standards and use of latest data resources means our clients get the most accurate valuations, protecting their asset and covering them for the unexpected.