Insurance Valuations At Risk

Buildings insurance provides protection for the building owner/policyholder against damage caused to a property by any of the insured perils as defined in the policy documentation including fire, lightning, explosion, storm, flood, and subsidence.

In general terms, if a loss occurs the building owner/policyholder is entitled to have the property reinstated (or returned) to a position comparable to that before the loss occurred.

However, it is essential to ensure that the correct level of cover is provided. Insuring a property for less than its reinstatement value may result in the insurance company refusing to pay the full cost of repairs. Insuring a property for more than its reinstatement value would have resulted in the insurance company paying no more than the full cost of reinstatement.

The reinstatement cost of a building typically allows for the costs associated with demolition, removal and rebuilding the structure. The rebuilding must accord with the design and standards of the original structure carried out using modern materials and techniques in accordance with current building regulations and other statutory requirements. If a building is either listed or in a conservation area, allowance must be made for reconstruction in accordance with the prevailing requirements of the local authority.

Survey & Architecture Services Ltd is able to assist clients in this process and advise on the assessment of building reinstatement costs for insurance purposes for: single houses & flats; blocks of flats; and commercial properties.



The Maidstone Studios, New Cut Road,
Maidstone ME14 5NZ


0845 5240270 / 07811 124256