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:
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Redesign Costs and Consultants Fees
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Upgrade of building to meet current building regulations and Australian Standards
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Demolition and removal of Debris
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Access to site (restricted or otherwise)
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Location of site
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Availability and cost of Labour and Materials
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Loss of Rental (Investment Properties)
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Cost escalation over insurance period
Review of Insurance Reinstatement Estimate
We recommend a review every 3 to 5 years