An accurate insurance reinstatement valuation ensures your home or your commercial property – and your business – is fully protected in the event of a fire, flood, or other significant damage.
The figure you provide your insurance company for the reinstatement value is the maximum level of insurance cover you would be able to claim back in the event the property needed to be rebuilt. Unfortunately, many owners do not take the step of having an accurate reinstatement valuation prepared – running the risk not only of being underinsured, but also the potential for legal action for negligence to be brought against them.
It’s important to realise that a reinstatement valuation is not the same as the market value of a property but an accurate assessment of how much it would cost to rebuild using the exact same materials, to the same design, including all professional fees.
Commercial or residential property reinstatement valuations usually require an on-site inspection to note the building materials, take measurements and evaluate the site itself.
Matthew Parkinson, Chartered Surveyor, has extensive experience of working across all types of residential houses and commercial property, including offices, shops, warehouses, industrial units etc. This experience ensures we can provide our customers with highly accurate insurance valuations.
The relative cost of having an insurance reinstatement valuation is very small compared to the cost of an insurance cover shortfall.
Contact our Building Surveyors and Registered Valuers
Matthew Parkinson is an RICS Registered Valuer and Chartered Building Surveyor and has a wealth of experience in providing professional services to business clients. Based in Lancaster but offering Valuation services across Lancashire, Cumbria and surrounding areas in the North West, Matthew is known for providing a professional yet cost-effective service. To discuss having an insurance valuation completed on behalf of your home or business premises, please contact us.
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