During the inspection an assessment is also made of building age, condition of fabric/finishes and current/previous building use. These assessments are used along with current BCIS construction rates to create a detailed numerical assessment.
Provision is also included for addition or deduction of special factors, for site, location, listed building/conservation areas, regional locations and professional fees likely to be incurred as well as building cost inflation. We provide professional reinstatement valuations for insurance purposes giving clients the assurance that adequate cover is maintained on their buildings without incurring excessive premiums.
We provide BRCA’s for owners or occupiers of large buildings or property portfolios – for all property types, from blocks of flats, offices, banks, shops, commercial and industrial premises. We are skilled at undertaking assessments for large corporate entities, management companies, pension funds and individuals on mixed use sites and individual buildings.
We understand the importance of thoroughly researching the likely impact of the complete loss of a building, and make an early assessment as to whether consultation with local authorities, listed building representatives and/or conservation area representatives will be beneficial.
Winfields Chartered Surveyors are able to assist owners with the preparation of reinstatement cost assessments and recommend the level of cover appropriate for insurance purposes. It is important that the estimate of the reinstatement costa is accurate. Too low a value may result in the property owner not being adequately covered for buildings insurance or a claim being refused or significantly scaled down.
Conversely, too high a value may result in a higher premium for buildings insurance cover.