Reinstatement Cost Assessment (RCS) is an assessment of the reinstatement cost of a building for insurance purposes. It is worked out by understanding the total cost you would have to pay to completely rebuild your property from scratch and should always include VAT (where applicable), debris removal and professional fees for the services of surveyors and architects etc.
This assessment is typically carried out by a qualified surveyor who calculates the cost to rebuild the property either on an elemental basis from recognised published building statistics or by application of a rate per square metre.
Overill Associates Chartered Building Surveyors have considerable experience in the field of insurance works and regularly negotiate with loss adjusters and loss assessors as well as advising the property owners on technical and engineering aspects of building damage and subsidence claims.
Our surveyors are able to deal with insurance claims for all major perils such as subsidence, fire, vehicle impact damage and flood and can assist with the specification of works through to managing the remedial work and agreement of the contractor’s final account and payment with insurance companies or their representatives.
Where a valid claim has been accepted by the insurance company Overill Associates’ professional fees are normally included as part of the claim.