Insurance Rebuild Valuations

All Building insurance policies require you to state the sum to be insured for the full rebuilding cost of your property. This is different from your market value of a property which has no bearing on an Insurance rebuild value. Our RICS Chartered Surveyors are well versed in producing VAR (Value At Risk) surveys to give a realistic indication of the more realistic sums to be insured.

It is YOUR responsibility as policyholder to obtain the correct rebuilding cost for your property. You must estimate the cost of demolition and rebuilding the property to modern building regulations. Remember that no two properties are same and the total rebuilding costs for every type of building will be different and will vary depending on individual specification. Apartment calculations can be complex and are usually insured in a block on one policy. Complications may arise if flats are insured individually, so by Insuring in this way you have scope in cover for things like common parts.

Typical Rebuild Calculation elements include but are not restricted to:

  • Foundations;
  • Walls
  • Roofs
  • Floors
  • Partitions
  • Doors and windows
  • Finishes
  • Decorations
  • Fitted wardrobes
  • Kitchens
  • Swimming Pools
  • Outbuildings, Garages & Sheds
  • Fencing & Boundary Walls
  • Drives
  • Landscaping
  • Heating Systems
  • Hot and cold water
  • Gas
  • Electricity
  • Lighting
  • ventilation
  • sanitation
  • Drainage
  • Bathrooms