Going beyond mere business insurance, an insurance valuation (also known as a reinstatement cost assessment or RCA) determines the cost of restoring the property to its original condition in the event it was irreparably destroyed.
However unlikely this scenario might seem, many businesses don’t realize they’re actually underinsured, leaving them financially vulnerable if they need to rebuild their premises after a major event – as they may not have enough funds to cover the costs.
Whether you’re a California-based business that also has offices in the UK, or you’re looking to enter the UK market and considering purchasing office space there, a building insurance valuation is essential.
Here, we assess the 5 best building insurance valuation providers in the UK.
1. Rebuild Cost Assessment
As one of the UK’s leading (and most aptly named) providers of reinstatement cost assessments, Rebuild Cost Assessment offers comprehensive insurance valuations to ensure businesses are not underinsured.
Their service is conducted by RICS-registered surveyors and provides accurate, cost-effective assessments without the need for a site visit. Instead, they leverage cutting-edge technology and data to provide reliable remote valuations.
Their reports are widely accepted by insurers, making them a trusted option for businesses of all sizes. With a streamlined process and quick turnaround times, they’re a go-to choice for companies looking for a hassle-free way to determine their reinstatement costs accurately.
2. Barrett Corp & Harrington (BCH)
Barrett Corp & Harrington (BCH)
is a specialist in building reinstatement cost assessments, working closely with property owners, businesses, and insurance brokers. Their expert team conducts on-site surveys to ensure valuations are precise and reflective of current market conditions.
With decades of experience, BCH is known for its tailored approach, offering detailed reports that help businesses mitigate the risks of underinsurance. They also provide periodic reviews to ensure valuations remain up to date, making them a long-term partner for companies looking to stay fully covered.
3. Gleeds Insurance Valuation Services
Gleeds
is a global property and construction consultancy that offers high-quality insurance valuation services. Their team of chartered surveyors specialises in reinstatement cost assessments, providing independent and unbiased evaluations. They conduct in-depth site inspections and use robust cost data to determine accurate rebuild costs.
Gleeds’ reports are trusted by insurers and businesses alike, and their international experience makes them a great option for companies with assets in multiple locations, including those expanding into the UK market.
4. Cunningham Lindsey (Sedgwick UK)
Now operating as part of Sedgwick UK, Cunningham Lindsey has a strong reputation for delivering expert building insurance valuations. Their services cater to businesses, real estate investors, and insurers, ensuring that properties are accurately assessed for their reinstatement costs.
With an extensive network of valuation specialists, they provide both remote and on-site assessments to meet client needs. Their expertise extends to complex and high-value commercial properties, making them an excellent choice for businesses with larger portfolios.
5. Cardinus Risk Management
Cardinus Risk Management
offers reinstatement cost assessments as part of their property risk services. They work with businesses across various industries to provide precise valuations that help ensure adequate insurance coverage.
Their reports are backed by RICS-accredited professionals and incorporate the latest cost data to account for fluctuations in the construction market.
Cardinus also offers additional risk management services, making them a valuable partner for businesses looking to safeguard their properties against financial uncertainty.
Underinsurance can leave you financially exposed in the event of a major disaster, so having an accurate reinstatement cost assessment is essential. Whether you opt for a digital-first approach with Rebuild Cost Assessment or a hands-on valuation from a firm like BCH, these providers offer reliable solutions to ensure you have the right level of coverage.
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