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DESKTOP ASSESSMENTS
Perhaps you’re wondering how we can work out how much your building would cost to completely rebuild, without visiting your property?
The easy, affordable and professional way to ensure your buildings are insured for the right amount.
Insurance can be complicated. And when it comes to insuring your buildings, something called the Average Clause can easily catch you out. But don't worry! We're here to help explain the problem and put it right - easily, professionally and affordably.
WHAT IS A REBUILD COST ASSESSMENT?
A Rebuild Cost Assessment (RCA) estimates the total cost to reconstruct your property from the ground up in the event of total loss. This assessment ensures you have the appropriate insurance coverage to fully cover rebuilding expenses, safeguarding against underinsurance.
At RebuildCostASSESSMENT.com we tackle underinsurance...
We believe in thorough professional assessments of buildings, that are affordable and easy to arrange. Most of our assessments are completed remotely and when we do surveys on site we always do our homework before arriving. So, by combining clever information technology with our in-house expertise, we make building insurance valuations work for you.
WHY DO I NEED A REBUILD COST ASSESSMENT?
If you're a property owner, it's your responsibility to tell your insurer how much your building should be insured for. However, property owners aren't property reinstatement experts. But we are! 'Regulated by RICS' we use our knowledge and experience to give you a reliable 'rebuild cost', which is the amount you should always insure your building for.
IS MY BUILDING FULLY COVERED?
Insurers call it the Average Clause and it's their way of making sure you only get what you pay for. If the amount you insure your building for is too low, then the Average Clause can significantly reduce how much you can claim. If you insure too high, you end up paying your insurer too much. Find out more about the Average Clause and why a buildings insurance valuation is essential...
WHAT OUR CUSTOMERS SAY
“A friend had all kinds of problems with an insurance claim because his house was under-insured. I didn’t want the same to happen to me and with help from my broker I found Rebuild Cost Assessment online. Turns out I was under-insured as well, but now everything’s been put right. No fuss, no hassle, great service!”
Josh Hargreaves, Home Owner
At RebuildCostASSESSMENT.com, we help everyone with an interest in buildings insurance, from property owners to brokers...
INSURERS & COVERHOLDERS
Removing the Average Clause is a great way of simplifying your product and demonstrating customer care. However, we understand it's equally important to ensure premiums are commensurate with risk. We're ready to help you develop a programme to tackle inaccurate sums insured effectively.
Every year we share data with the insurance industry around the accuracy of building sums insured in the UK. These are our latest findings covering both residential and commercial properties.
76%
UNDERINSURED
76% of UK properties are underinsured. This can severely reduce the amount paid out following a property damage claim.
20%
OVERINSURED
20% of UK properties are overinsured. If this is you, you’re paying more than you need to for your insurance.
9 out of 10 UK properties are insured for the wrong amount
This means there's a strong chance you're either under or over-insured. Our latest data from assessments of more than 29,000 UK residential and commercial properties is summarised below...
70% of RESIDENTIAL properties are underinsured and 25% are overinsured.
79% of COMMERCIAL properties are underinsured and 17% are overinsured.
NOT ENOUGH
We find that on average, underinsured buildings are covered for just 63% of the amount they should be.
TOO MUCH
While overinsured buildings are on average covered for 122% of the correct amount.
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