A property reinstatement valuation assesses and measures the cost of premises in the event of total destruction. This is typically the requirement of your building’s insurance.
Many properties have never had an accurate and professional assessment of the costs of a full rebuild, either on an existing or new build property. Usually, owners or traditional insurance brokers provide guesstimates only at the cost of reinstatement. In the event of an insurance claim, the underwriter will ask for a reinstatement valuation. If your property is undervalued, the full value of your insurance claim may not be realised.
With a wealth of experience in all sectors of industry and construction costs, Quadrant can prepare building reinstatement valuations that include healthcare, commercial and industrial properties.
As an RICS approved practice all fire reinstatement valuations are completed in accordance with the RICS guidelines.
Quadrant use various data to establish the reinstatement valuations. Site surveys are completed and costings are based upon BCIS information, a recognised published building cost information. Valuations can be undertaken on a one-off basis or reviewed annually where required.
Before you obtain a quotation, this type of valuation could save you money on your insurance premiums by accurately determining the value of your property.
Quadrant can advise and assist in any project administration required for completing repairs, including the negation, coordination and liaison with the appointed insurance loss adjusters.