Landlords and tenants responsible for arranging the insurance on their properties are required to provide their insurers with regularly-updated fire insurance valuations. These valuations cover the full cost of rebuilding the property in the event of fire or other total loss
The valuations usually include:
• Cost of demolition
• Fees for re-designing the property
• Fees payable to statutory authorities (for planning and building regulation applications)
• Allowances for the estimated time to rebuild in order to assess the loss of rent.
• Estimated cost of the re-build.
It is important to have a regularly updated Fire Reinstatement Valuation for Insurance Purposes as your insurance company could refuse to pay out on the full cost of the claim if it deems you are under insured.
We have prepared Insurance valuations on many different types of buildings from small lock up storage units to Leeds United Football ground.