Property owners often neglect to calculate the actual rebuilding cost when advising their insurance company of the total sum needed for their building’s insurance. Samuels Surveyors can help you to calculate the reinstatement cost of your property.
As RICS registered valuers we can assess your property and provide an accurate Insurance Reinstatement Valuation for owners of residential properties.
Our valuers calculate the reinstatement costs using the external floor area of the existing building which includes fixtures, fittings, external buildings, fences and driveways. The value is then calculated using the latest construction costs provided by the Building Cost Information Service (BCIS) as well as information from the Royal Institute of Chartered Surveyors (RICS).
In order to ensure that your property is adequately insured a new Insurance Reinstatement Valuation should be carried out every two to three years. Ensuring you have the right value for rebuilding costs will mean that you won’t be left short by your insurance company if you need to make a claim. It will also help to keep your premiums lower as you’ll only be insuring your property for the actual reinstatement costs.
Make sure your home has the right level of cover by getting a professional Insurance Reinstatement Valuation for your property. At Samuels our building surveyors and valuers can help you get the best advice.
If you’re looking to reduce your insurance overheads and get an up to date valuation for rebuilding costs of your property then get in touch with us today. We work throughout Surrey and London so give us a call today on 020 7043 1376.
Other Services Provided by Samuels Surveyors
Specific Defect Reports
A Specific Defect Report is used to identify and concentrate on an area of concern that has either been noticed by the owner of a property or been brought up as part of a survey. The report is used to investigate a failing in the structure of a building such as: cracking and distortion of walls, unevenness in floors and damp or rotting timbers.
Schedules of Condition
A Schedule of Condition is normally prepared for legal or contractual reasons and they can be prepared for residential or commercial buildings. As well as being used for leases there are a variety of other instances where a Schedule of Condition should be prepared that include construction and party walls.
Planned Maintenance is a way of identifying internal and external repairs of blocks of flats and converted properties in advance. By using a planned maintenance programme the disruption can be kept to a minimum for lease and freeholders in the building.
Snagging List Surveys
Snagging lists are the result of a snagging survey and are used to identify any defects or repairs that need to be made to a new build property or a property following refurbishment work. The aim is to spot minor issues right through to major structural problems.
Schedule of Dilapidation
A Schedule of Dilapidation is set up to record any damage that has occurred during the lease of a property to a tenant. The purpose of the Schedule of Dilapidation is to identify breaches of covenant that usually relate to: disrepair, decoration and reinstatement.