Morgan Sloane

Book your reinstatement cost assessment

Keep your building insurance up-to-date

A reinstatement cost assessment (RCA) evaluates the rebuilding cost of a building should it be destroyed, which is then used to determine the insurance value for the property.

We work with property owners to undertake regular reinstatement cost assessments and can revalue a single property or an entire portfolio.

How often you should complete an RCA

The Royal Institution of Chartered Surveyors (RICS) recommends that you review building reinstatement costs regularly. The reason for re-assessing the RCA sum often is to reflect inflationary effects that will determine the property's insurance value. 

A major review and reassessment should occur every three years, or whenever a significant alteration, such as an extension, is made to the property. If necessary, this thorough assessment will also consider additional costs incurred to bring the building up to modern standards.

Other benefits of regular assessments

One of the benefits of a reinstatement cost assessment that's often forgotten is that it incorporates an external inspection of the property. Therefore, alterations and redevelopment potential, for example, can also be assessed at the same time without an additional surveying fee. With this information, you can decide whether to develop your property further to get the maximum return available.

Offset the cost 

If you are a freeholder or managing agent for a block of flats, usually, these costs are recoverable via the service charge.

The cost incurred in preparing the assessment is nominal in comparison to the potential losses should you find yourself under-insured.

Contact us to book your reinstatement cost assessment.