Update your reinstatement cost assessment

hot air balloon and buildings

We know as well as anyone that times change. And as the years pass, the value of your property changes too.

That’s why it is important to have your building insurance valuation updated every three to five years.

By keeping your valuation updated, you can rest assured that your insurance policy will continue to keep your property protected in the case of a claim.

We also know how busy life can get. Whether you’re a client or a managing agent, we can take the hassle out of remembering to update your valuation regularly.

We will contact you with the information needed to keep your property safeguarded.

RICS guidelines advise a review every three years.

It is possible your insurers will index link the value of the property year on year — from the renewal date.

Property owners often consider the cost of regularly updating their building insurance as an unnecessary expense. Annual “indexed” updates may seem to be a convenient and cheap way to maintain cover.

But this often results in either over-insurance and inflated premiums or insufficient cover and exposure to huge risk.

This is why it is recommended that your Reinstatement Cost Assessment should be carried out every 3 to 5 years. This will ensure it remains accurate and correctly protects your property.