Insurance Reinstate­ment Valuation

undertake insurance valuations regularly

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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

You can see further information from the Association of British Insurers on Home Building 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.

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