Replacement Cost Estimates
What is a Replacement Cost Estimate?
A Replacement Cost Estimate is a report that calculates how much it would cost to fully replace a Building and it is used for insurance purposes.
For example, a Building could need to be replaced due to a major Storm, or other catastrophic event.
It is important to understand that a Replacement Cost Estimate is not the same as a Market Valuation. A Market Valuation would normally be done by a Valuer or Real Estate Agent, to give you an estimate of how much you could expect to get for your property, were you to sell it.
Many Insurance Company sites now have online calculators for you to work out your own House Replacement Cost Valuations.
However, when you want to get a more accurate Replacement Cost Estimate done for an investment property, it is best to use a suitably qualified Quantity Cost Professional, such as a Quantity Surveyor.
This will give you greater assurance that your investment property is adequately covered.
The Replacement Cost Estimate should be updated every few years to make sure that the property has adequate insurance cover, in line with inflation or any Building Cost increases.
A Quantity Surveyor can take the worry out of knowing whether you have allowed the right amounts for each part of your Building, when calculating your Replacement Cost Estimate.
Just tell us what type of Building you have and we will find suitable Quantity Cost Professionals for you.
Just fill in your details, on the top right hand side of your screen now.
It can save you time, money and worry.