Reinstatement Cost Assessment Portfolio
Project Introduction
- Reinstatement cost assessment for buildings insurance purposes.
- The portfolio comprised 7no residential blocks containing up to 100 units each arranged over 3-12 storeys.
- The client required an accurate assessment of the rebuild cost of each property to provide to insurers to ensure the properties were adequately insured.
- This was vital so that the properties would be fully covered in the occurrence of an insured event.
Our Role
Site visit to collate information relevant to the rebuild cost including the construction type, materials used (including presence of any combustible or deleterious materials) and mechanical and electrical installations.
Due consideration for complexity of the site – for example consideration of neighbouring properties, access constraints, Conservation Areas, Listed status.
Calculated rebuild cost based on information obtained and included an allowance for demolition of the existing property, site clearance, professional and local authority fees.
Assessment prepared in accordance with RICS Reinstatement of Cost Assessment of Buildings Guidance Note.
Result
Provided our client with a Day One Reinstatement Cost Assessment to provide to their insurers to ensure a sufficient level of building insurance could be procured.
Assessments were undertaken promptly by a team of surveyors to meet policy renewal deadlines.
Daniel Watney provided post assessment support to the client whilst they arranged the policy renewal.
