Every property owner is affected by the recent changes to the way insurance payouts are to be calculated for damaged or destroyed homes and buildings.
Assessing the replacement value for any building is complex. It is, at best, a hit-and-miss task for the inexperienced. The replacement value goes beyond the building itself and includes a raft of associated structures, such as pools, decks and conservatories. Other aspects to be considered are the cost of demolition and removal of materials, as well as allowances for design fees – essential in situations where the rebuild of an existing design may not meet today’s codes and standards.
If the worst should happen, you will want the peace of mind of knowing that your insurance cover is right for your rebuild. Employing a professional and experienced valuer to assess your projected rebuilding costs will give you the confidence of knowing you are paying a sensible premium (no more than you have to) and that you are covered for the right amount.