Building Reinstatement Valuations (BRV’s) are an assessment of the building reinstatement cost for insurance purposes. The building valuation will cover the full cost of demolition, reconstruction and all additional costs such as professional and local authority fees. If the property is underinsured the Insurer is not duty-bound to cover the full cost of any repairs, leaving the building owner to fund any shortfall.
For smaller single traditional dwellings the BRV is normally automatically adjusted by the Insurer year on year. However, for larger properties, residential blocks or commercial units it is advisable that BRV’s are carried out every 3-5 years with interim desk top assessments on an annual basis.
If you require an up to date building reinstatement valuation for your property please contact Nick Eames.
Our Building Surveying team also provide an insurance reinstatement service where a building has been damaged following an insured event. Please visit our Insurance Reinstatement page for more information.