Insurance Reinstatement and Reinstatement Cost Assessments
At Shepherd Chartered Surveyors we have a reputable and dedicated team with all the skills and commitment required to ensure that the entire reinstatement process is progressed professionally, swiftly and efficiently.
Our team draws on the experiences of Chartered Building Surveyors who maintain a dialogue with the loss adjuster and the insured through the whole process, from the date of the loss until the completion of the reinstatement, delegating tasks to team members as required. This single point of contact and responsibility offers both loss adjusters and the insured the necessary continuity. For further information please contact our Building Consultancy team.
We also regularly prepare insurance reinstatement cost assessments on behalf of landlords and tenants for all types of properties, reviewing insurance premiums and checking that their single property, or portfolio of properties, is adequately insured. The reinstatement costs assessment not only takes into account the reinstatement cost of the building but also associated costs, including demolition and site clearance and professional and statutory fees.
We recommend that a site inspection and reinstatement cost assessment is prepared for each property in line with current RICS guidance every 3-5 years, albeit the reinstatement cost should be reviewed and updated as necessary annually. A reinstatement costs assessment should also be undertaken where the appearance and formation of a building has changed, whether any parts have been demolished or new extension constructed.
If you require a reinstatement cost assessment of a standalone property, a portfolio of properties, or have an existing valuation and require it to be updated, please contact one of our experts in the Building Consultancy division.