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