We are able to offer Rebuilding Cost Assessments based upon BCIS build costs subject to variation as appropriate derived from our own build cost experience.
Rebuilding cost assessments are often ignored and seen as an unnecessary expense despite many landlords being able to recover the costs through the service charge.
We are still finding properties significantly under insured by as much as 50% in some cases. Commercial insurance policies will apply ‘average’ where under insurance can be proven. Therefore a claim on a building that is under insured by 50% would result in a reduction in the claim by 50%. This can have significant repercussions for a landlord/freeholder in the event of a major loss.
It is therefore important that landlords/freeholders undertake rebuilding cost assessments on a regular basis to prevent issues with under insurance.
We can provide this service for a single building or a portfolio of property spread across the country.