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Reinstatement Cost Assessments

Clear advice on rebuilding costs for property owners, freeholders and managing agents, helping you make informed decisions about the figure used for your buildings insurance.
REINSTATEMENT COST ASSESSMENTS

A clear basis for buildings insurance

A Reinstatement Cost Assessment (RCA) estimates the cost of rebuilding a property following substantial damage or total loss, for insurance purposes. This differs from its market value or purchase price: the assessment considers what rebuilding would cost, rather than what the property could sell for.

Charlecote supports property owners, freeholders and managing agents with professionally informed rebuilding figures, helping you approach insurance discussions with a clearer understanding of the property and the costs involved.

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HOW WE WORK

Understanding your property and requirements

Whether you have been asked for an RCA or are reviewing an existing figure, we start by discussing the property and why you need the assessment. This helps establish what is to be included and identify relevant information, giving you a clear understanding of the scope before the assessment proceeds.

UNDERSTANDING THE RISK

Why the rebuilding figure matters

Building costs change over time, and alterations can affect what it would cost to rebuild your property. An outdated or unsuitable figure may leave you inadequately insured.

 

If the figure is too low, a claim settlement could be reduced under the terms of your policy, leaving you to meet some of the costs.

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ASSESSING THE COSTS

Looking beyond construction costs

The assessment considers the building’s construction, size, specification and location, alongside the practical requirements of rebuilding.

 

Costs extend beyond construction to relevant allowances for demolition, site clearance and professional fees. Restricted access or particular materials can also influence the figure, which needs to reflect the property’s circumstances and the agreed scope of the assessment.

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SUPPORTING YOUR NEXT STEPS

Clear findings for informed insurance discussions

We provide a clear rebuilding figure with the relevant assumptions explained, helping you discuss your buildings insurance with your insurer or broker.

 

You can use the assessment to review the figure currently recorded and understand the basis for any changes. Contact Charlecote to discuss your property and arrange a Reinstatement Cost Assessment.

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