Archway are regulated by the Royal Institution of Chartered Surveyors

Reinstatement Cost Assessments (RCA)

Incorrectly insuring a property or portfolio potentially exposes property owners to excessive costs in the event of a claim or unnecessarily high annual insurance premiums. The key to preventing over and under-insuring of properties is an accurate assessment of a properties reinstatement cost. This is the cost of rebuilding the property in the event of damage.

Our extensive experience of delivering construction projects enables us to undertake detailed and accurate assessments of a building’s reinstatement cost. We provide detailed cost breakdowns within our reports based on the most up to date industry cost data. We also report strictly in accordance with the Royal Institution of Charted Surveyors (RICS) Guidance Notes.

The RICS recommends that full RCAs are carried out every 3 years, however, updated RCAs should also be undertaken whenever there are significant changes to the property.

Our specialist team will consider the particular requirements and tailor a solution that reflects the perceived risks associated with the property and your insurer’s requirement, which is likely to include:

  • Undertaking thorough site inspections to understand the different forms of construction
  • Reviewing existing drawings and/or undertaking a detailed measured survey of properties to ascertain the gross internal floor areas
  • Calculating the day one building reinstatement cost using current cost information and documenting our findings in a brief and clear report
  • Liaising with the building’s insurer/asset manager to understand their aims/requirements
  • Undertaking desktop-based re-assessment valuations based on changes in the building cost Index for properties with accurate re-building values, on an annual basis