Empowering Clients: How Reinstatement Cost Assessments Enhance Confidence and Security in Construction Projects
Understanding how Reinstatement Cost Assessments (RCA) directly benefits clients is essential for delivering maximum value. This article explores the advantages of RCAs for portfolio holding clients. and how it serves as a strategic asset for those seeking confidence and security in their investments.
Poole Dick are an RICS accredited firm, established for over 70 years, providing RCAs for property portfolio holders on a local, regional, or national level.
RCAs are not merely a paper exercise; they are a powerful tool that directly contributes to the peace of mind of our clients.
Accurate Insurance Protection for Peace of Mind:
For clients investing in construction projects, the assurance of accurate insurance coverage is paramount. An appropriate RCA ensures that:
- Insurance policies precisely align with the actual cost of rebuilding, eliminating concerns about being underinsured.
- Provide clients with the peace of mind that their investment is adequately protected in case of unforeseen events.
- The risk of over insurance, and therefore the risk of Incurring Inflated premiums, is mitigated.
- Regular reviews ensure that valuations remain reflective of the current market (the RICS recommend 3 yearly reviews).
Final thoughts:
RCAs are a client-focussed practice that directly enhances confidence and security in construction projects. By focusing on accurate insurance protection clients can navigate their projects with a heightened sense of assurance, trusting that their investments are in capable hands.
Poole Dick are an RICS accredited firm, established for over 70 years, providing Reinstatement Cost Assessment for property portfolio holders on a local, regional, or national level.
Our RCAs provide your insurers with a rebuild value for determining your building insurance. As part of the process, we will visit your premises to assess all aspects of your building/s to provide an accurate rebuild value. This will allow you to ensure that your building is insured to an appropriate value if you make a claim against your insurance.
The Royal Institute for Chartered Surveyors guidelines recommend that the rebuild value (sum insured) should be checked regularly, with an adjustment made on an annual basis to reflect inflationary effects. A full review should also be undertaken every three years, or earlier should significant alterations be made to the insured property.
Reinstatement Cost Assessments are particularly relevant now as insurance values are likely to have changed significantly due to economic uncertainty and materials price increases following recent economic shocks.
If you have any queries in relation to RCAs or other Services undertaken by Poole Dick, please get in touch with a specialist member of our team as below.
Steve Lowndes – s.lowndes@pooledick.co.uk
Martyn Tickle – m.tickle@pooledick.co.uk
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