Reinstatement cost assessments
Primarily produced for insurance purposes, reinstatement cost assessments (RCAs) are estimations of the cost of rebuilding property following total destruction. With a comprehensive understanding of the complex RCA process, our experts drive adequate insurance of buildings by providing full, elemental and accurate evaluations of rebuilding costs in the event of destruction, and our involvement in recent RICS guidance on RCAs is testament to our strong reputation in the field.
- An elemental approach for accuracy and credibility: We never rely on average price data to inform a re-build rate for a property. Instead, we use an elemental approach, costing each individual part of a building to produce a single, tailored cost assessment.
- Bespoke assessments: Shunning the generic route, our approach produces an entirely bespoke, unique cost model based on the actual building, whilst delivering greater transparency, fairer apportionment, and less risk of inaccuracy in the rebuild cost.
- Agile responses: With insurance costs increasing and recovery of premiums paramount, we prioritise the rapid and comprehensive resolution of tenants’ queries. This is particularly relevant to tenant alterations and fit-outs, which we can cost separately and either include or exclude from our overall assessment, depending on the landlord and tenant insurance liabilities.
- Different specialisms, all working together: RCAs are often carried out in tandem with a building survey to drive efficiency. Our dedicated team deals with reinstatement calculations, supported by the wider survey team in performing inspections. Coupled with our portfolio management capability, we can ensure consistent, accurate, well-presented assessments are delivered to an agreed timescale and that a deep understanding of each portfolio is developed.
James Key
Director
Reinstatement cost assessments
Products
- Desktop reviews
- Inflationary uplifts
- Reinstatement cost assessments
We ensure that due consideration is given to the scope of insurance and apply our deep understanding of the process to provide rigour and quality advice.
