Reinstatement Cost Assessment (RCA) in Buildings

Severe problems can arise by lack of adequate insurance cover.

Clients/Policy Holders are advised to re-assess the sums insured, with an annual adjustment to reflect inflationary effects, and a major review and reassessment every three years or whenever any extensions or significant alterations are made to the insured property.

RCA’s are generally made on the basis of total loss, or of such substantial damage that the entire building will require demolition and rebuilding. This is usually a requirement of your buildings insurance.

The majority of buildings in the UK are insured on what is commonly known as the ‘Day One Reinstatement’ basis. Insurance cover arranged under such insurance policies allows for claims to be settled on a ‘new for old’ and without betterment basis if repairs are actually carried out.

The Insurance Act 2015 came into force on 12 August 2016. Along with the consumer insurance reforms that came into effect in 2013, it represents the most significant change to insurance contract law in this country for over 100 years.

The duty is now placed on the policy holder to assess the value of the sum insured.

Easton Bevins are able to undertake RCA’s for insurance purposes. To meet a high standard of professional competence and best practice, the Royal Institution of Chartered Surveyors (RICS) Practice Standards for the Reinstatement cost assessment of buildings is followed. Our particular experience covers individual dwellings, blocks of flats and commercial property.

Interested To Find Out More?

Use any of the below contact details to speak with a member of our team in your local area.

  • Bristol - 0117 942 7876
  • Bradley Stoke - 0117 942 7876
  • Cheltenham - 01242 573 908
  • Newbury - 01635 813 318
  • Swindon - 01793 680 844
  • Salisbury - 01722 617 617