Insurance Reinstatement Valuations
An Insurance Reinstatement Valuation provides an accurate assessment of the cost to rebuild a property, ensuring it is neither underinsured nor overinsured.
About Insurance Reinstatement Valuations
An Insurance Reinstatement Valuation determines the estimated cost of rebuilding a property in the event of total loss. This includes demolition, site clearance, professional fees, materials, labour and compliance with current building regulations. It is an essential part of ensuring your property insurance policy provides appropriate cover.
If a property is underinsured, insurers may reduce the payout following a claim. If it is overinsured, the policyholder may pay unnecessarily high premiums. A professionally prepared reinstatement valuation provides clarity and ensures the sum insured is accurate and compliant with insurance requirements.
Edwards Genesis conducts reinstatement valuations for residential and commercial properties, including individual homes, apartment buildings and entire property portfolios. Our valuations follow RICS guidance and use current industry data to calculate rebuilding costs accurately and reliably.
6 Reasons Why Insurance Reinstatement Valuations Are Important
Understanding the value of an accurate reinstatement valuation can help property owners avoid financial exposure and ensure adequate protection. This assessment forms the basis of a well structured insurance policy.
Here are 6 reasons why this is important:
– Ensures the property is correctly insured
– Avoids overinsurance and unnecessary premium costs
– Prevents underinsurance and reduced claim settlements
– Reflects current building regulations and material costs
– Includes demolition, clearance and professional fees
– Provides independent and accurate RICS backed calculations
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Frequently Asked Questions
What is an Insurance Reinstatement Valuation used for
It determines the correct sum insured for a property to ensure adequate cover in the event of total loss.
How often should this valuation be updated
Rebuilding costs change over time, so updates are generally recommended every three to five years.
Does this valuation reflect market value
No. It reflects the cost of rebuilding, which is separate from market value.
Is this required for blocks of flats
Yes. It is essential for apartment buildings and is often required by freeholders, management companies or insurers.
Can I discuss the valuation after receiving the report
Yes. We welcome follow up discussions to ensure full understanding of the reinstatement figure.
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