FREQUENTLY ASKED QUESTIONS
Will the assessment tell me if I am underinsured?
Our Rebuild Cost Assessment report is designed to advise you of the cost to rebuild your property from scratch. Our report also provides information on how we arrive at our final assessment. We do not offer advice about your insurance needs. We recommend you discuss the findings of our report with your insurance broker/insurer, who will be able to guide you on the adequacy of your current buildings sum insured.
How long will the assessment take?
High levels of demand mean that desktop assessments are currently taking around 15 working days from the acknowledgment of order. However, this is a guide only and some assessments may be completed sooner. If it appears an assessment may take longer than stipulated, we will contact you and advise you accordingly.
I don’t have a PayPal account. Can I use a different payment method?
You can still pay with Credit or Debit Cards, even if you do not have a PayPal account. During the checkout process, you can select to pay with your Credit or Debit card.
Does the assessment take all units/outbuildings into account or are these considered as separate properties?
Yes, the assessment will include all units/outbuildings within the boundaries of your property, they will be separately recorded. If on receipt of the report a unit/outbuilding has not been recorded, please notify us immediately.
Google street maps does not show an up-to-date image of my property, will this affect my assessment?
We use a number of different sources to gather the information required to complete your Rebuild Cost Assessment report. Our assessment does not rely on any one piece of information.
I am currently having building works completed on my property. Can you complete the assessment to indicate rebuild costs for completed works?
Part of the assessment is a review of planning applications and these will be taken into consideration. However, we are aware that not all building work is subject to planning. If you have had any recent development of this nature, you should contact us and make us aware of this prior to the Rebuild Cost Assessment.
Once I have paid for the Rebuild Cost Assessment, what is the next step?
You should receive an email confirming receipt of payment and acknowledging your order. If you do not receive an email from us, please contact us. You will then receive notifications updating you on the status of your assessment. You should receive your Rebuild Cost Assessment report within 15 working days.
Will I need to supply any further information?
From time to time there may be a need for further information and if so one of our Advisers will contact you.
Is the information on my property shared with anyone else?
What happens if I input the wrong address details?
It is important you take the time to enter the full address of the property you wish to be assessed correctly, including the postcode. However, if we believe the details provided are incorrect in any way, one of our Advisers will attempt to contact you to clarify. Unfortunately, we cannot accept responsibility for any errors made by you when inputting your details.
How can I be sure that the information you use to complete the RCA is up-to-date?
All our Rebuild Cost Assessment reports are quality assured prior to release by a member of our experienced team. The team have access to up to date rebuilding cost data available to guide them such as that of the Building Cost Information Service compiled and maintained by the Royal Institution of Chartered Surveyors.
How much does a face-to-face survey cost?
The cost of an on-site Rebuild Cost Assessment depends on several factors, including the location and type of property involved. This means we only offer individual quotations per property for site assessments. Should you request a site assessment, or should we be unable to complete a desktop assessment without visiting your property, we will contact you to discuss your needs and provide a quotation, which will include appropriate terms and conditions for your consideration and acceptance.
Your ‘Homeowners’ section appears to suggest your service is only available for ‘high value homes’. Is this correct, and if so what is ‘high value’?
Our Rebuild Cost Assessment service is particularly suited to ‘high value’ or what are sometimes called ‘high net worth’ homes, as normally your insurer will ask you to state precisely the level of cover (sum insured) you require for such properties. Many household buildings in the UK are now insured on what is known as a ‘notional basis’, meaning for example that your home buildings may be covered ‘up to £500,000’. Although this removes some of the reliance on you to nominate your sum insured, it is still your responsibility to ensure the amount is adequate for your needs. As such, our Rebuild Cost Assessment service may be suited to any type of home, regardless of its ‘value’. If you are uncertain as to whether or not you require our services, we suggest you discuss this with your insurance broker or insurer.
What exactly do I get for my money? Is there a report?
The whole purpose of our service is to supply you with a comprehensive Rebuild Cost Assessment report, which you can then use to help you determine an adequate level of insurance cover for your property. Our report provides a full breakdown of all calculations leading to our Rebuild Cost Assessment of your property and will also include building measurement, pictures and maps. We provide a sample report on our website, you can find it here.
How long is your Rebuild Cost Assessment valid for? What about inflation, for example?
Our Rebuild Cost Assessment is valid at the time of the assessment. Making provision for inflation or the Retail Price Index (RPI), will normally be part of your insurance arrangement. However the inflation provision can take many forms, you will need to check this with your insurance broker or insurer. It is your responsibility to ensure you arrange adequate levels of cover for your buildings on an ongoing basis. Should you make any significant changes to your property that you believe could affect the Rebuild Cost, e.g. an extension, mezzanine floor or new outbuilding then again you should contact your insurance broker or insurer, who may recommend you obtain a revised Rebuild Cost Assessment. Within the assessment, we make recommendations with respect to the frequency of the assessment which will often depend on the complexity of the property.
How will your Rebuild Cost Assessment affect my insurance premium?
This all depends upon the findings of our Rebuild Cost Assessment and the subsequent action you choose to take. For example, if our Rebuild Cost Assessment indicates you have insured your property by too much, you may be able to reduce the sums insured on your property, which in turn could lead to a lower premium. Conversely, if our Rebuild Cost Assessment indicates you have not insured your property for enough, you may need to increase the sums insured on your property, which in turn could lead to a higher premium. It is important to remember that the potential financial impact of being underinsured could be severe in the event of a claim. We always recommend you discuss the findings of our Rebuild Cost Assessment with your insurance broker or insurer.
Why should I pay for a Rebuild Cost Assessment? Is this not my broker’s or insurer’s responsibility?
Responsibility for setting the correct sums insured on buildings always rests with the policyholder. Insurance brokers and insurers are experts in offering and providing insurance, not in assessing the Rebuild Cost of properties.
Does your desktop assessment take into account the materials my building is made from?
The notes within the report clearly set out what is and isn’t included, you can check these in advance by reviewing the ‘Assessment notes’ here.
Is there any kind of guarantee offered with your Rebuild Cost Assessment?
Some insurers are prepared to offer specific terms to modify the wording of their policy if the policyholder has taken proactive steps to ascertain the Rebuild Cost from a reputable provider. You will need to discuss this directly with your broker or insurance provider.