Reinstatement Cost Assessments
Reinstatement Cost Assessment (RCA) provides an overview of the anticipated cost of reconstructing a building in the event of damage or total loss due to an insured risk, for insurance purposes. We have a sound understanding of construction and the development process that enables us to accurately assess the likely costs and associated considerations for re-constructing a building.
Our specialist team will consider the particular requirements and tailor a solution that reflects the perceived risks associated with the property and your insurer’s requirement, which is likely to include:
- Undertaking thorough site inspections to understand the different forms of construction
- Reviewing existing drawings and/or undertaking a detailed measured survey of properties to ascertain the gross internal floor areas
- Calculating the day one building reinstatement cost using current cost information and documenting our findings in a brief and clear report
- Liaising with the building’s insurer/asset manager to understand their aims/requirements
- Undertaking desktop-based re-assessment valuations based on changes in the building cost Index for properties with accurate re-building values, on an annual basis