Did you know that over 90% of Irish commercial properties are not insured for an appropriate amount?
Our expertise lies in conducting commercial reinstatement cost assessments to help identify and reduce the risk of underinsurance in Ireland. We survey all types of commercial properties as well as high-value residential properties.
Why Do I Need A Rebuild Cost Assessment?
As a commercial property owner, you are responsible for providing the correct insurance value for your building to your broker. However, how are you meant to know the appropriate reinstatement cost? That’s what we do best.
Our team of RICS-regulated Chartered Building Surveyors provides professional assessments to help you maintain appropriate cover and reduce the risk of underinsurance.
There’s a Clause in Your Insurance Policy You Should Understand
Insurance can be complicated. After all, it’s a contract and contracts are always full of conditions and clauses.
When it comes to insuring your building there’s one clause you really need to know about, because the average clause may reduce a claim settlement where underinsurance applies.
It’s called the Average Clause and put simply, it means if you insure your building for an amount that’s too low, your insurer can reduce how much they’ll pay out! It’s your insurer’s way of making sure you only get what you pay for.
A professional approach to assessing your property’s reinstatement cost
Insurance can be complicated, and the Average Clause can significantly affect a claim settlement. We are here to help explain the issue and address it in a professional and cost-effective way.
On-Site Assessments
As an RICS-regulated firm, a Chartered Surveyor will physically visit
your site to assess and accurately report on reinstatement costs.
More than 9 out of 10 Irish buildings are underinsured
Who Do We Work With?
Commercial Policyholders
Concerned that your property may be underinsured? Understand how the Average Clause may affect your insurance settlement. Take the first step to make sure your building is insured for the right amount by ordering a Reinstatement Cost Assessment today.
Insurance Brokers
Protect your clients and help them get their buildings’ sums insured right. We have a range of options for you. You can access discounted rates by opening an account with us, or quickly refer a client to us without handling payments.
Managing Agents
We can help you confidently arrange the right level of cover for your client, whether it is for a single property or a large portfolio. We are committed to
providing professional valuation solutions to meet your clients’ specific needs.
Insurance Companies, Underwriters & MGAs
Removal or waiver of the Average Clause, where offered, depends on the insurer and the policy wording. It can simplify a product and demonstrate customer care; however, we understand it’s equally important to ensure premiums are commensurate with risk. We’re ready to help you develop a programme to tackle inaccurate sums insured effectively.
Book Your Commercial Insurance Assessment Today!
Why is the Rebuild Cost Review important?
Construction costs can change materially over time, so reinstatement values should be reviewed regularly by a qualified professional.
Reinstatement Cost Assessment Follow-Up
After a thorough Reinstatement Cost Assessment, to ensure that your rebuild value remains correct and up to date, we recommend following the RICS best practice guidelines which state that a desk-based Rebuild Cost Review should be completed 2 to 3 years after the full Reinstatement Cost Assessment.