Replacement Insurance Valuation

Are You Adequately Insured?

An accurate insurance replacement valuation gives all property owners the peace of mind that in the unfortunate event of loss or damage, the property will be fully covered. Hidden costs are often forgotten, such as demolition works, professional fees and escalation, which can lead to being under insured and result in replacement cost liabilities.

Rawlinsons experienced Quantity Surveyors are highly trained, holding Bachelors of Science in Construction Management and are members of the Australian Institute of Quantity Surveyors. Our team are experts in the valuation of construction costs for all building types, along with forecasting the estimated time frame associated with redesign and construction.

Why should I use a Quantity Surveyor to create an Insurance Replacement Valuation?

Quantity Surveyors are universally recognised as the professional's best qualified to estimate construction costs. An accurate replacement insurance valuation will give you piece of mind that in the unfortunate event of loss or damage, your property will be fully covered. If you are underinsured, you will be liable for a portion of the replacement cost yourself.

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What is included in an Insurance Replacement Valuation?

Our detailed and easy to read reports include the following:

Building Construction Costs
Locality factors
Professional fees
Development application and other statutory costs
Demolition and removal of debris
Cost escalation during the demolition, design and construction phase
Cost escalation during the insured period
Cost escalation during the construction phase

It is not necessary to prepare a full initial cost of replacement every year, it is sufficient to apply a percentage for escalation,however a full review should be undertaken at least every 2-3 years and no more than 5 years. This will ensure changes in demolition and construction costs, alterations and additions to the insured property, or any change in the properties classification will be insured to the correct value.

Common exclusions from a Quantity Surveyors insurance replacement valuation report are:

Loose furniture and equipment
Tenants’ property
Loss of revenue
Temporary accommodation
Finance costs

How much will an Insurance Replacement Valuation cost?

Each quotation is customised so please contact our office for an obligation free, written quotation.

Sounds great, what do I do next?

Contact our office today; we can have the ball rolling for you ASAP.

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