Getting more value from a rebuild cost assessment
The headline rebuild figure is often the first thing a client notices. The rest of the assessment matters too. Reviewing it together gives brokers and clients a practical way to check the property information, understand how the figure was reached and agree what needs to happen next. It can also make the report more useful at renewal and highlight questions for RebuildCostASSESSMENT.com or the insurer.
Why review the rebuild cost assessment together?
Reviewing the assessment together gives the client an opportunity to check the property information, understand what the report covers and raise questions about the assessed rebuild cost.
It can also help direct questions to the right place. RebuildCostASSESSMENT.com can explain the report's technical basis, scope and limitations. Questions about insurance advice, policy terms or regulatory responsibilities should be directed to the broker, insurer or other relevant firm.
Six questions to review together
1. Does the assessment summary match the property?
Start with the summary page. It identifies the property, report reference and assessment date, then shows the assessed rebuild cost with and without VAT. Where current sums insured have been supplied, the report compares those figures too. It also provides a suggested rebuild period and reassessment date.
Check that the property and policy information is correct, then talk through the main figures and dates. This gives the client an early opportunity to raise anything that is unclear.
2. Are the recorded property details correct?
The description section lists the building's materials, roof, windows, floors, basement, use, extensions, outbuildings and other permanent structures. It also shows the information sources used and any additional comments.
The client can compare this with what they know about the property and flag anything that looks wrong, missing or out of date.
3. Has the property changed since the previous assessment?
When reviewing an earlier report, ask whether there has been any structural change, extension or change of use at the property since that assessment was completed. The answer helps RebuildCostASSESSMENT.com consider whether the existing property information can support an update or whether a new assessment may be more appropriate.
If the client is unsure whether a change is relevant, our team can explain what information is needed before confirming the appropriate assessment route.
4. What does the calculation include?
A Desktop Assessment shows how the total has been calculated, including the floor areas and rebuild rates used, professional and demolition fees, other permanent structures and VAT. The Instructions and Basis of Assessment explain what is included and excluded, the key assumptions and the report's limitations.
The report also links to an overview video and explanations of sums insured, the rebuild period, reassessment and VAT. Brokers can use these resources with clients and ask RebuildCostASSESSMENT.com about anything that remains unclear.
See what the report looks like
Our sample Desktop Assessment reports show the calculation, property information and supporting explanations in context.
5. How does the rebuild cost relate to the insurance?
The rebuild cost, buildings sum insured and market value are three different figures. The assessed rebuild cost estimates what it would cost to reinstate the property, based on the report's information and assumptions. The buildings sum insured is the figure used when arranging buildings cover, subject to the policy terms. Market value is an estimate of what the property might sell for on the open market, rather than the cost of rebuilding it.
The broker can help the client understand how the assessment is being used at placement or renewal. Questions about the policy basis, index-linking, the insurer's requirements or whether it will accept the assessment should be checked with the insurer and against the policy documents.
6. What needs to happen next?
Finish by noting what was checked, what still needs an answer and who will act. This could mean asking RebuildCostASSESSMENT.com about the report, checking a policy point with the insurer, checking Desktop Refresh eligibility or considering a new assessment. Sometimes, no immediate action is needed.
The broker should record the conversation and the information available, following their firm's usual procedures.
Keep everyone's role clear
Each party has a different part to play:
The client can check the property information against what they know and flag changes or uncertainties.
The broker can guide the discussion, explain relevant insurance implications within the scope of their service, record the outcome and direct questions to the right party.
RebuildCostASSESSMENT.com can explain the report's technical basis, scope and limitations, and consider whether further assessment work may be appropriate.
The insurer determines its underwriting requirements and policy terms, including how it will treat the assessment information.
With those roles clear, the broker and client can focus on understanding the report and directing any questions to the right expert.
Could Desktop Refresh be the next step?
For brokers with an active RebuildCostASSESSMENT.com account, Desktop Refresh may be a practical way to update an eligible Desktop Assessment issued within the last three years. The property must not have changed and must remain suitable. We complete the updated report remotely using available property information and current rebuild cost data.
If the property has changed, a new rebuild cost assessment may be more appropriate.
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