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WHAT IS A REINSTATEMENT COST ASSESSMENT?
A Reinstatement Cost Assessment (or building insurance valuation) is completed to determine how much it would cost to rebuild a property should it be destroyed, such as in the event of a fire or collapse. This figure enables you to insure the space for the correct amount.
If the sum insured is too low, you may find yourself accountable for any shortfall. If it is too high, you will be paying a higher premium than required.
"Reinstatement cost assessments ensure your property is accurately covered, protecting you from financial loss due to underinsurance or overpayment. It is a vital step for peace of mind and safeguarding your assets."
What are the benefits of getting a commercial reinstatement cost assessment?
Our team is highly skilled at providing reinstatement valuations based on accurate appraisals of your property, plant, machinery or other assets. This ensures that you are not paying too much on premiums or too little, which could leave you underinsured and, therefore, exposed to unnecessary risk.
As RICS surveyors, we are fully qualified to visit sites and conduct research through BCIS data and other sources to provide reinstatement cost assessments. Our values are calculated by factoring in all necessary costs, including demolition expenses and fees to local authorities, giving you peace of mind in knowing that you will be able to fully reinstate your assets.
Why choose Eddisons for a Reinstatement value?
- Experienced RICS-accredited team
- Operating from a network of offices across the UK
- Vast sector based knowledge to get you the best reinstatement value
Our property reinstatement valuation sector experience
We are able to assess properties like warehouses, healthcare hubs and office spaces. Our sector experience includes:
- Commercial: offices, industrial and retail
- Rail and transport
- Education: schools, colleges and universities.
- Licenced leisure: hotels, public houses and restaurants
We are also vastly experienced in the educational sphere, acting to provide building reinstatement valuations on academies, schools, colleges and more. These spaces often encompass a range of facilities, ranging from sports halls to science labs, and these require specialist acumen when it comes to providing accurate insurance reinstatement costs.
Another area of expertise for our team at Eddisons is the financial sector, and we act for the majority of major banks, providing reinstatement values for buildings and contents throughout the year.
Experts in commercial property
Contact our team of leading auctioneers, property agents, and RICS-qualified surveyors today.
Our Experience
For over 180 years, we have placed our clients at the forefront of everything we do. Operating nationally with a large team building surveyors, we take the time to understand our clients’ objectives and offer effective advice. Our Surveyors work with the widest range of organisations, delivering a comprehensive range of consultancy services.
We take time to understand your requirements and develop appropriate and cost-effective solutions. Our specialist knowledge and technical expertise combine to provide a first-class service.
Where a client has complex requirements, we involve professionals from various parts of our business, ensuring that the advice given is appropriate and bespoke to the situation.
Providing for full Reinstatement
We make sure that our reinstatement cost assessments provide for the full cost of demolition and rebuilding, along with any other allowances, in order to provide the best level of cover and to protect our clients from negligence issues.
If you would like to learn more about building reinstatement valuations or any of the other services we provide, please call 0800 051 2593 or complete the form below.
