Building insurance valuation

Building insurance valuation, building reinstatement cost assessment for insurance purposes.

Not to be confused with a market valuation a building insurance valuation or reinstatement cost assessment, as it is sometimes called, is an exercise to assess the replacement cost of a building on a unit cost basis. The calculation will include an allowance for demolition, site clearance, fees and inflation. Unusual or historic buildings may be assessed on an elemental basis by producing approximate quantities and applying appropriate construction rates.

A calculation is required even for a new building because the contract value does not represent all that has to be taken into account in the sum assured.

It is often forgotten but an altered or extended building should be re-assessed because the reconstruction cost will have changed; again this is not simply a case of adding the contract value to the previous sum assured but a new assessment of the building as a whole.

Single buildings, buildings of different age and construction, property portfolios can all be valued.

The sum assured should be periodically reviewed, at least once every five years, because the indexing applied by insurance companies can get seriously out of step with current construction costs. Over insurance results in paying too high a premium, under insurance risks inadequate cover if you have a claim.

We generally quote fixed fees for building insurance valuations so call now for a no obligation quotation.

See how we measure up

Please contact us if you would like more information on our services or a fee quotation.

Featured Projects

  • Commercial building surveys

    Business Park, Hungerford

    This detached commercial building with B1(b)/(c) use was built in the 1990’s for the seller. In total the building offered 2,600 m² (28,000 sq.ft.) of floor space of which 910 m² (9,800 sq.ft.) was office accommodation.
  • Residential building surveys

    Former Victorian Cottage, Thatcham

    Originally a two-up two-down Victorian cottage this house has undergone significant alteration and extension over the past 100 years and is now a substantial 4-bedroom house.
  • Commercial building surveys

    Business Park Office Unit Newbury

    This modernist designed office building with striking fully glazed elevations shaded by Briese Soleil was offered on a 15-year FRI lease with the expectation that the landlord would put the property in repair prior to the commencement of the term.
  • Residential building surveys

    1960’s Bungalow, Brimpton

    This 1960’s bungalow appears at first sight to be of traditional construction but is in fact timber framed with a brick cladding.
  • Commercial building surveys

    Retail Warehouse Newbury

    As part of our clients plan to establish a national retail distribution business they acquired a local company and then wanted to relocate to more appropriate premises.
  • Commercial building surveys

    Office Barn Conversion, Newbury

    This historic Grade II Listed Building was converted to office use some years ago. Our client was proposing to take a new 10-year full repairing and insuring lease and was concerned that with a building of such age that their liability, both during and at the end of the term, might be financially significant.