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Reinstatement Costs

Reinstatement Costs

Most UK insurance underwriters require a professional evaluation of a building’s rebuilding cost following total destruction. Known as a Reinstatement Cost Assessment/RCA, their accuracy is crucial in ensuring that property is adequately insured.


What Do Reinstatement Costs Cover and How Are They Calculated?

The Reinstatement Cost of your home is how much it would cost to completely rebuild the property if it were totally destroyed. It is not the same as the value of your home, and takes into account the cost of finding the same materials and using similar construction methods of the original property. Reinstatement Costs also take into account the cost of clearing the land ready for rebuilding and reinstalling facilities such as central heating and double glazing.


Why Do I Need to Know the Reinstatement Costs of My Home?

It is important to find out how much your home would cost to rebuild so that you can get the right insurance. The last thing you want is to insure your home for an amount below the Reinstatement Cost and suddenly find yourself with no home and a large investment required to rebuild it.


How Can I Find Out How Much a Property’s Reinstatement Costs Will Be?

A qualified surveyor can inspect your home to calculate your property’s reinstatement costs. You will get an accurate valuation that your insurance company can use to determine the amount of cover you receive and premiums you pay. This keeps you protected in the future from any serious accidents that could destroy or dilapidate your home.