What is the purpose of a Insurance Reinstatement Valuation?
It is vitally important to both commercial and residential clients that insurance valuations
are undertaken regularly to ensure, in the event of a claim on buildings insurance, they are
neither under nor over-insured.
In many instances, proper insurance is a specific requirement under the terms of a commercial
lease, or a policy is required by mortgage lenders prior to lending.
Arnold & Baldwin can provide professional advice on the estimated reinstatement costs of your
asset for insurance purposes, ensuring the continued protection of your investment.
Our valuations use the most up to date data provided by the Royal Institution of Chartered Surveyors Building Cost Information Service.
When insuring your home or building, it is not generally suitable to insure it against
its sale price or current market value. A reinstatement valuation generally assesses the
estimated cost of reinstating a building on a particular date following total loss or such substantial
damage that the entire structure requires demolition and rebuilding.
If you are under-insured, you run the risk of not being able to reinstate the building; or if over-insured
you will potentially be paying a higher insurance premium than necessary. You can see further information
from the Association of British Insurers on Commercial Property Insurance
For a general and “rough” estimate on the reinstatement cost of your home, the Royal Institution of
Chartered Surveyors Building Cost Information Service, under commission of the Association of British
Insurers, provides a free Residential Rebuilding Cost Calculator service
NOTE: This service requires registration and only allows a limited number of uses per user per year.