Updating Replacement Cost Estimates
A Replacement Cost Estimate should be updated at least every 5 years.
It can also depend on two other factors. Firstly, if Building Costs are regularly going up, then the Replacement Cost Estimate should be reviewed more often to cover Building Cost increases.
Secondly, if the Building has had any extensions done to it recently, those additional Building costs should be factored into the re-instatement Cost of the Building for insurance purposes.
Knowing that you would be adequately insured and that you would not be out of pocket if the worst was to happen to your Building Property and Structures can give you real ‘peace of mind’.
Quantity Surveyors are able to assess all the Elemental Components of the Buildings (along with any associated Structures) and are also able to accurately calculate all aspects of re-instatement for your property.
A Quantity Surveyor can take the worry out of knowing whether you have allowed the right amounts for each part of your Building and any additional Costs, when calculating your Replacement Cost Estimate.
If you tell us what type of Building you have and we will find suitable Quantity Cost Professionals to do a Replacement Cost Estimate for you.
Just fill in your details, on the top right hand side of your screen now.
It can save you worry, money and time.