Insurance Reinstatement Cost Assessments
Accurate rebuild cost valuations to ensure the right insurance cover and peace of mind.
Know that you’re covered
A reinstatement valuation tells you how much it would cost to entirely rebuild a property from scratch if a home was completely destroyed by fire or other catastrophic event, and had to be built again from the ground up. And because the costs of building materials and labour have risen significantly, it’s important that your property is insured for the right amount.
Key things to remember:
The reinstatement value of your home is not the same as the market value of your home if you were to put it up for sale
Reinstatement costs are for an accurate reconstruction of your property from scratch including fees, etc.
Taking into account the changing costs of materials and labour, the Royal Institution of Chartered Surveyors recommends having a Reinstatement Valuation every 3 years
Why choose us?
There are many variables involved in a complete rebuild. So you need a professional RICS registered surveyor with the necessary local knowledge and expertise to be able to apply the correct equations for an accurate figure, which is vital in making sure you are neither under nor over-insured.
We make it convenient and straightforward
Quick and hassle-free booking – We’ll arrange a convenient time to visit your home for the valuation.
Fast turnaround – You’ll receive your valuation report within two working days.
Clear, expert guidance – We walk you through the process step by step, so you know exactly what to expect.
Accurate and compliant – We take precise measurements and apply our expert knowledge to provide a reliable calculation that meets RICS and insurer requirements.
Our door is always open – If you have any questions before, during, or after the valuation, we’re here to help.
Good to know
When insuring your home, it’s your responsibility to ensure you have the right level of cover—your broker or insurer won’t determine this for you. If you under-insure, your insurer may not pay out in full if you make a claim, regardless of the claim size.
Why? Because of something called the ‘Average Clause’, best explained by this helpful example:
If your property should be insured for £1,000,000 but is only covered for £500,000, you’re only insured for half its value. So, if you make a £10,000 claim, the insurer will only pay out £5,000, leaving you to cover the rest.
How to avoid this?
The only way to avoid the ‘Average Clause’ is to make sure you insure your property for the right amount. Here at Richard Russell Surveyors we’ll make sure that you have the full cover you need with an accurate Restatement Valuation along with welcome peace of mind.
Our three signature promises…
Accuracy you can rely on…
As independent RICS-registered valuers, we provide accurate, unbiased reports that meet RICS ‘Red Book’ standards and the specific requirements set by Housing Associations, such as Orbit, Platform, Clarion Housing.
We won't keep you waiting…
Time is crucial in property transactions, so we use the latest technology and work efficiently to get your report to you promptly— within one working day of the inspection for Shared Ownership Valuations. That way, you can move forward with your plans without unnecessary delays.
Our door is always open…
Our support doesn’t end once the report is delivered. Whether it’s a follow-up phone call or a Teams chat, we’ll be on hand to help you understand every detail. With us, you’re always fully informed and reassured throughout the entire process.
