Buildings Insurance Valuation

The implications of not insuring your building correctly are very simple:

 

  • Over-insurance means you could unnecessarily pay too much for your cover

  • Under-insurance means any claim may not be paid in full in the event of a loss and you may have to make up the difference from your own resources

 

There are a number of reasons why your current sums insured may be inaccurate:

 

  • You have not had a professional valuation carried out in the last three years

  • Your figures are based on market value instead of reinstatement costs

  • You have relied on rounding up historical figures on a year-by-year basis but may not have taken into account the increase in raw materials and labour costs

  • You have relied on the building developer's figures at the time the property has been handed over to you. These may not include aspects such as debris removal costs, architects and Surveyors fees or the cost or meeting local authority requirements in the event of re-build

 

Hillcrest can provide a building insurance valuation report under BCIS (Building Cost Information Service) guidance applicable for commercial and residential property. Additionally, we can offer a full Building Surveyor rebuilding valuation report, which is suitable for Listed buildings or those with unusual features or materials.

The objectives of this service are to:

 

  • Ensure that your building insurance cover is correct, therefore avoiding both over-insurance and under-insurance

 

The stages of our service include:

 

  • Defining the initial scope of the valuation project

  • Determining the level of report required (BCIS or Chartered Surveyor)

  • Scheduling a Surveyor to visit the premises to conduct the valuation

  • Providing a full report including the insurance rebuilding valuation

 

The Competent Person is defined as:

 

  • Someone who has sufficient training, experience, knowledge or other qualities to enable them to carry out a measure correctly

 

Hillcrest can provide the Competent Person who is qualified specifically to carry out these assessments on your behalf.

For all of the reports mentioned we offer on-going support to ensure our clients are fully compliant with their legislative requirements and to ensure the safety of the property and residents who live in it.

 

If you are a self-managed block and are interested in having any or all of these surveys carried out, then please contact us. We offer a very competitive rate and can have the surveys produced within a matter of days.

 

5 Grove Road, Redland

Bristol, BS6 6UJ
0117 973 0600

info@hillcrestestates.co.uk

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style of Hillcrest Estate Management Limited

Registered in England and Wales No 1943394

Registered Office: Vantage Point, 23 Mark Road, Hemel Hempstead, Hertfordshire, England, HP2 7DN