Re-instatement Cost Valuations Flashcards Preview

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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