Rebuilding Cost Assessment
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Our experience has demonstrated that many properties; particularly large residential blocks, are inadequately insured. Periodic reviews should be undertaken of the policies. If you cannot recall the last time the rebuilding cost for your block management was assessed, there is a good chance that the policy is undervalued for the property and you may not have adequate cover in the event of a claim.
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It is prudent to insure a property for the value of complete reinstatement following potential total destruction, including partial destruction that that requires demolition and rebuild. With insurance costs increasing it is important that the assessment for which the building or portfolios are insured accurately reflect the client’s policies and the buildings current form.
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All our Rebuilding Cost Assessment Reports are tailored to suit each property/block and include commentary upon the specific construction methods utilised with location factor considered to provide our clients, their managing agents, and/or insurance brokers etc. with confidence that the property is adequately insured.
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As a consequence of a claim, your insurers are likely to require the appointment of a surveyor to specify and administer the reinstatement works. Better quality is ensured for all parties involved, with the surveyor’s services comprising of the following:
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1. Initial inspections and advice
2. Compiling specifications and scope of works
3. Obtaining competitive tenders
4. Contract Administration
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If you wish to receive a quotation to obtain a Rebuilding Cost Assessment or discuss the other services we provide please do not hesitate to contact us.
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