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

  • Residential building surveys

    Late-Victorian House, Newbury

    This semi-detached 4-bedroom house dates from the late 1800’s and has been in our client’s family for a long time.
  • Commercial building surveys

    Public House Newbury

    This village restaurant, located in a Grade II Listed building, comprised a restaurant of 115 m², trade kitchen, cellar, stores, and six staff bedrooms with associated domestic accommodation.
  • Commercial building surveys

    Industrial Unit Poole

    As part of our clients plan to bring together a number of subsidiary group companies in one location they negotiated terms for an FRI lease on this detached industrial building.
  • 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

    End terrace house, Goring-on-Thames

    This 3-bedroom 1960’s end terrace house was built on a sloping site with significant fill beneath the raised ground floor slab.
  • Residential building surveys

    Stone Cottage, Shrewsbury

    This traditional stone built cottage is located in an Area of Outstanding Natural Beauty close to the town of Shrewsbury.