Reinstatement Valuations for Buildings Insurance
If your buildings insurance is based on a guess, an out-of-date figure, or your original purchase price, there’s a good chance it’s wrong — and that only becomes a problem at the worst possible moment: when you need to claim.
A reinstatement valuation (also called a rebuild cost assessment) calculates what it would actually cost to demolish and completely rebuild your home from scratch, including site clearance and professional fees — not what it would sell for. It’s a different number to your market value, sometimes by a large margin, and it’s the figure your insurer needs to set your sum insured correctly.
Rebuild costs have been rising sharply. BCIS, the RICS’s own construction cost data service, tracks residential rebuild costs rising year after year, recently by 4.9% in a single year. A reinstatement figure that was accurate a few years ago is very likely under-cooked today.
Why it matters
Get the figure wrong and there are two ways it costs you:
- Under-insured, and many policies apply “average” — if your declared rebuild cost is, say, 30% below the true figure, your insurer can reduce any claim payout by roughly that same proportion, not just on total losses.
- Over-insured, and you’re simply paying higher premiums than you need to, year after year, for cover you’ll never use.
Who needs one
- Homeowners renewing or arranging buildings insurance, particularly on older, listed, or non-standard construction properties, where rebuild costs are hardest to estimate from a standard calculator.
- Landlords with buy-to-let or let properties, where accurate cover protects both the asset and rental income.
- Leaseholders in blocks of flats, where the freeholder or managing agent needs an independent figure to set the building’s overall sum insured fairly across all leaseholders.
- Anyone whose insurer or mortgage lender has specifically requested an independent reinstatement figure.
What’s included
A RICS-qualified surveyor assesses size, construction type, age, materials and any features that affect rebuild cost — extensions, outbuildings, period features, non-standard construction. We use recognised industry cost data to calculate the figure, then provide a formal, signed report suitable for your insurer.
Our process
- Get in touch with your property details for a quote.
- We arrange a site visit, or work from your plans where appropriate.
- You receive a clear, RICS-compliant reinstatement valuation report, ready to give to your insurer.
Fees and timing
We quote a fixed fee upfront, before you commit to anything, based on your property’s size and type. Get in touch with your details and we’ll confirm a price and likely turnaround by return. Most residential reinstatement cost assessments are turned around within 24 to 48 hours of instruction.
FAQs
How is a reinstatement valuation different from a market valuation?
Market value is what your property would sell for. Reinstatement value is what it would cost to demolish and rebuild it from scratch. The two figures are often very different, and insurers need the rebuild figure, not the sale price.
How often should I get one done?
As a general guide, review your reinstatement figure every few years, and always after a significant renovation or extension — both rebuild costs and your property’s footprint can move enough in that time to leave you under-insured.
Can you do this without a full site visit?
For straightforward properties we can often work from existing plans; anything non-standard usually calls for a full inspection. We’ll advise which approach suits your property when you get in touch.
Do you cover my area?
We cover Essex, London and the Home Counties.
Ready for an accurate reinstatement figure for your home? Get in touch with your property details and we’ll confirm a fixed quote.