Published: 15/10/2025 By Diane Middleditch
It’s suggested that around 70% of properties are underinsured when it comes to their reinstatement value. Diane Middleditch, Commercial Surveyor at Symonds & Sampson, specialises in such valuations and regularly carries them out on behalf of owner-occupiers, landlords, and organisations as owners of residential, commercial, and agricultural properties. She outlines the intricacies of this often-overlooked service.Reinstatement or rebuild valuations are a critical component of building insurance policies. These surveys determine the estimated cost of rebuilding a property in the event of a total loss, taking into account key factors such as construction type, heritage status, specification, hard landscaping, overall site complexity, and associated professional and demolition fees.
The resulting valuation ensures that the property is adequately insured, providing peace of mind to property owners in the event of the worst-case scenario. Reinstatement valuations carry their own code of conduct and must adhere to RICS Reinstatement Cost Assessment of Buildings 3rd edition, and, as an RICS Registered Firm, Symonds & Sampson is one of few surveyors in the region able to provide this service.
Valuations are calculated using gross external areas and incorporate all aspects of the property. The final figure is based on the Surveyor’s professional expertise, the property's specific location, and a range of industry cost data and benchmarks.
The surveys assume that reinstatement will be carried out using modern materials and in full compliance with current Building Regulations. In the case of heritage or listed buildings, it is essential that the surveyor has a thorough understanding of period features and traditional construction methods. Rebuilding such properties often requires specialist trades and materials to meet Listed Building Consent and Local Authority requirements. These factors can significantly increase the overall rebuild cost due to the limited availability of traditional skills, gaps in specialist craftsmanship, and the bespoke nature of the materials involved.
Recent data suggests that approximately 70% of properties are incorrectly insured, underscoring the importance of accurate reinstatement valuations for both residential and commercial properties. Inadequate insurance coverage can lead to significant financial shortfalls in the event of a claim, with property owners potentially required to cover the difference.
As building technologies continue to evolve, reinstatement assessments must also account for new and sustainable technologies, ensuring valuations remain accurate and comprehensive.
Diane recommends that reinstatement valuations should be reviewed and updated every three years to ensure the overall rebuild cost reflects current construction prices and any changes in the property's location-specific factors. For further information and to ensure that you don’t fall into the 70% of under-insured property owners, please contact Diane on 01935 382902 or our valuation experts in your local Symonds & Sampson office.
