Reinstatement Cost Assessments
This service is available to landlords with a portfolio of properties, or individual home owners looking to ensure adequate cover.
Reinstatement Cost Assessment
An assessment of a building which
calculates the cost of rebuilding in the event of a total loss.
Insurance Purposes
Insurance companies require an
accurate and up to date figure of the rebuild cost to ensure the policy holder is adequately insured.
Reinstatement
Reinstatement refers to reconstructing a property to a condition equal to, but not
better than, the condition of the property when assessed.
Measurements & Cost Data
Accurate measurements and up to date cost data are key to ensuring a Reinstatement Cost Assessment
produces the correct rebuild value for insurance purposes.
Reinstatement Cost Assessments
Reinstatement Cost Assessments (RCA) are typically required for insurance
purposes. It is important to ensure that a property is insured for the correct value in
the event of a total loss. If undervalued, an owner could be in a position where they
are unable to rebuild their property. If overvalued, they are likely to pay an over
inflated insurance premium.
Key to ensuring the correct rebuild value is ascertained, is to instruct a surveying firm
with the necessary skills and experience to undertake a comprehensive assessment.
Silver Grey Associates Ltd can do this for you.
We would undertake a site visit to survey the property, taking site dimensions and
assessing all aspects of the site, and utilise up to date cost data to ensure an
accurate reinstatement figure is reached.
This service is available to landlords with a portfolio of properties, or individual home
owners looking to ensure adequate cover. Either way, peace of mind is paramount,
so please contact us if you would like to find out more about how we can help.
Common Questions on Reinstatement Cost Assessments
What is a Reinstatement Cost Assessment?
A Reinstatement Cost Assessment is an assessment of a property which calculates the rebuild cost for insurance purposes.
What is involved in carrying out a Reinstatement Cost Assessment?
To produce an accurate figure, a site survey of the property should be undertaken to assess its condition and take dimensions. This information is then assessed with up to date cost data to then calculate the rebuild value.
When should a Reinstatement Cost Assessment be carried out?
The Royal Institution of Chartered Surveyors (RICS) recommends that a Reinstatement Cost Assessment is carried out every three years.
How much does a Reinstatement Cost Assessment Cost?
Prices for a single domestic dwelling start at £495 + VAT. Blocks of flats (3 or more) start at £795 + VAT. All our prices include a site survey visit.
Is it possible to undertake a Reinstatement Cost Assessment without visiting the property?
Some companies offer desktop assessments. However, Silver Grey Associates Ltd will not undertake a Reinstatement Cost Assessment without visiting the property. Factors such as site access, traffic restrictions and topography of the land are all
important when assessing the rebuild cost, and these cannot be sufficiently considered without a physical site visit.
