Flashcards in Re-instatement Cost Valuations Deck (3)
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1
Q
What is the purpose of a reinstatement cost valuation?
A
Typically, to ensure there is adequate cover in the event of a claim for full rebuild following total loss.
2
Q
What does reinstatement cost valuation include?
A
Demolition of remains of the origional building
Removal of contaminated material, including asbestos
Professional fees incurred
VAT if applicable
Rebuild cost
3
Q
How do you measure a building for Insurance Reinstatement?
A
Gross External Area
