A reinstatement valuation is an estimation of the cost of rebuilding a property following total destruction. An accurate assessment will eliminate the risks associated with under insurance and will avoid payment of excessive premiums for over insurance.
At AA Projects our experienced team of surveyors is able to undertake a reinstatement valuation of your property. This assessment will:
- Ascertain the cost of demolition and subsequent rebuilding to the current standard of the property
- Provide a report which states the estimated rebuild time, allowing a contingency plan to be implemented and ensuring services can be maintained for your business
We recommend that you do not rely on the market value of your property when purchasing building insurance. The cost to rebuild a property can sometimes be considerably more or less than this.
We also recommend that you have a reinstatement valuation undertaken every few years to ensure that the figure you provide to your insurance company is up-to-date.
All of the reinstatement cost assessments undertaken by surveyors follow best practice guidance provided by the Royal Institution of Chartered Surveyors.