Reinstatement cost assessments
Assess rebuilding costs for an eligible residential property. Check our service eligibility and the insurance requirements before arranging an assessment.
Tailored quotation · scope and fees agreed before instruction
No obligation · Discuss your requirements with our team
The current online quotation service excludes commercial properties, listed buildings and residential buildings containing more than three flats or apartments. Contact the team before ordering if the property falls outside these criteria; availability and scope must be confirmed, and a bespoke assessment should not be assumed.
What does a reinstatement cost assessment estimate?
A reinstatement cost assessment estimates rebuilding cost on an agreed insurance basis at a stated date. It can consider demolition and clearance, reconstruction and the relevant fees and allowances within the instruction.
The figure concerns the building and specified associated works, rather than the price of buying the property and land on the market. A high sale price does not establish the appropriate rebuilding figure. Conversely, unusual construction or access constraints can make reconstruction expensive even where market value is lower.
Confirm the insurer's requirements
Provide the policy or insurer's instructions before the assessment is commissioned. Confirm what needs to be assessed, the required basis and the treatment of inflation, VAT, professional fees and other allowances.
A declared value and a policy's sum insured are not necessarily interchangeable. Your insurer or broker should explain how the assessment is used in the particular policy. The RICS reinstatement assessment standard addresses the approach, information and reporting required.
What affects the rebuilding cost?
- Building size, layout, construction and specification.
- Construction features and relevant statutory requirements.
- Access, adjoining buildings and constraints on demolition or rebuilding.
- Services, external works and other items included in the agreed scope.
- Professional and statutory fees, site clearance and stated allowances.
Cost information must be applied to the particular building and assessment basis. Multiplying a sale price by a percentage is not a substitute for considering these factors.
Inspection, measurement and building information
Agree whether the instruction is a site-based assessment or another defined update. Existing plans, measurements, earlier assessments and records of alterations can help, but their accuracy and relevance must be considered.
The report should explain the areas inspected, information relied upon and relevant limitations. A cost assessment is not automatically a detailed condition survey, structural appraisal or intrusive investigation. If specialist construction, concealed materials or other uncertainty requires additional advice, the team must confirm whether the instruction can be supported or a different adviser is needed.
Flats, blocks and shared parts
For an eligible residential building, establish which party arranges insurance and which parts of the building are included. The freeholder, managing agent and lease documents may provide important information. The current service excludes residential buildings containing more than three flats or apartments.
Assessing a building is different from valuing an individual flat for sale. Shared structure, common parts, services and external works need appropriate treatment within the agreed scope. Adding together the market values of the flats does not produce a rebuilding assessment.
Keeping the assessment relevant
Alterations, extensions, changes in construction costs and policy requirements can affect the assessment. Discuss review arrangements with the insurer or broker, particularly at renewal or after significant changes.
There is no single review interval suitable for every instruction. An assessment does not guarantee insurance acceptance, sufficient cover in every circumstance or the payment of a claim. The Association of British Insurers' rebuild guidance explains the distinction between rebuilding and market value.
Fees and preparing your enquiry
We quote for the individual instruction. Your quotation confirms the property, valuation purpose and date, report requirements, professional fee and VAT before you instruct us. Inspection, research, negotiation and additional work are identified in the agreed scope.
The building, size, construction, access, information available, required basis and complexity affect the scope. Do not use the online quotation for an excluded property type. Contact the team to confirm the available service and scope rather than assuming that a bespoke instruction can be offered.
Send the address, property description, insurer's requirements, available plans, earlier assessments and details of alterations. We will confirm the deliverables, limitations, fee, VAT treatment and expected timing. For an opinion of sale value instead, see our market valuation service.
Reinstatement cost assessments FAQs
Is rebuilding cost the same as market value?
No. Market value concerns exchange in the property market. A reinstatement assessment estimates rebuilding on an agreed insurance basis and should not be substituted for a sale valuation.
Does the assessment include the value of the land?
The assessment concerns rebuilding and the items within its scope, not the market purchase price of the land. Check the report basis and included allowances.
Which property types are excluded from the current service?
Commercial properties, listed buildings and residential buildings containing more than three flats or apartments are excluded. Contact the team before ordering if the property falls outside the stated criteria; do not assume that a bespoke assessment is available.
Will the report guarantee an insurance claim is paid?
No. Policy terms, exclusions, facts and claim requirements remain relevant. Confirm acceptance and the use of the assessment with the insurer or broker.
Must every assessment be renewed at the same interval?
No universal interval should be assumed. Discuss the appropriate review programme and notify advisers about alterations, cost changes and new policy requirements.
Is a condition survey included?
Not automatically. A detailed building survey, structural appraisal, testing and specialist investigations are separate unless expressly included in the agreed instruction.
Discuss the appropriate instruction
Send the property address, your role, the purpose of the instruction and the relevant documents. Explain any deadline or required report format. We will confirm the scope, fee, VAT treatment and expected timing before work begins.
Call 020 7736 2383 or send our team a message if you would like advice before requesting a quotation.
