Insurance Valuations

What is an Insurance Reinstatement Report? It is a detailed current cost estimate to rebuild an existing building should a disaster occur.

To ensure adequate insurance cover, all Building Owners, residential, commercial or industrial, should consider an Insurance Reinstatement Report for their building.

The cost of rebuilding after a disaster can be considerably higher than the cost of building on a greenfield site.

Cost Factors to Consider:

  • Redesign Costs and Consultants Fees

  • Upgrade of building to meet current building regulations and Australian Standards

  • Demolition and removal of Debris

  • Access to site (restricted or otherwise)

  • Location of site

  • Availability and cost of Labour and Materials

  • Loss of Rental (Investment Properties)

  • Cost escalation over insurance period

Review of Insurance Reinstatement Estimate

We recommend a review every 3 to 5 years