This is a survey of a property to assess the total cost of reinstating the property in the event of a catastrophic event.
It is extremely important to note that the market value of the property and the reinstatement valuation of the property are in no way linked
This report enables the building owner to adequately insure their building.
Unless your property is insured adequately, you may be penalised under your policy by having to pay a certain proportion of the reinstatement costs. It is therefore extremely important to have the property sufficiently insured.
It is important that reinstatement valuations are checked periodically to ensure that you are not over or under insured