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our Full Building Survey and HomeBuyer reports include a buildings
reinstatement figure for the property. This is the sum for which the
property should be insured under a comprehensive policy.
In many cases this figure, which takes into
account the building materials, standard of fixtures and fittings,
accessibility of the site etc, is different from the market value
of the property. It should be kept under review and adjusted to
take into account the effects of inflation and any improvements
carried out to the building. Most insurers index link every year,
but it is worth checking from time to time.
A fire insurance valuation check is not
a lengthy, or expensive, procedure and it is one which we can undertake
for all types of property.
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