Did You Know That Over 90% Of Commercial Irish Properties Are Not Insured For The Correct Amount?

Our expertise lies in conducting commercial reinstatement cost assessments to eliminate underinsurance risks in Ireland. We survey all types of commercial properties as well as private client high-net-worth homes.

The logo for RICS. On the left is a white circular emblem containing the black silhouette of a roaring, crowned lion in profile. To the right are the large, bold, white letters "RICS" followed by a registered trademark symbol. The entire logo is set against a black background.
The logo for Brokers Ireland. On the left, a white square contains the stylized letters "Bi" in bold black font. To the right, against a black background, the word "BROKERS" is displayed in large, bold white capital letters, with "IRELAND" positioned below it in smaller, spaced-out white capital letters.
The logo for The Insurance Institute of Ireland, displayed in white on a black background. On the left, the text "THE INSURANCE INSTITUTE OF IRELAND" is stacked above a smaller tagline reading "PROMOTING PROFESSIONALISM SINCE 1885", with a thin underline below. To the right is a traditional heraldic crest featuring a shield supported by two figures.
The logo for SCSI, featuring a circular abstract emblem on the left, followed by the large bold letters "SCSI". To the right of a vertical dividing line, smaller text reads "Chartered property, land and construction surveyors". The entire logo is white on a black background.
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Why Do I Need A Rebuild Cost Assessment?

As commercial property owners, you are responsible for providing the correct insurance value for your building to your broker. However, how are you meant to know the true value of reinstatement? That’s what we do best.

With our team of RICS regulated Chartered Building Surveyors providing precise assessments to ensure you have accurate coverage, eliminating the risk of being
underinsured.

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There’s A Clause In Your Insurance You Really Need To Know About

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 THIS CLAUSE can cause big problems if you ever need to make a claim.

It’s called the AVERAGE CLAUSE and put simply, it means if you insure you’re 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.

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An illustration of a man in the foreground wearing a dark blue sweater, looking thoughtful and confused with his hand resting on his chin. Three light blue question marks float around his head. In the background to the right is a large, multi-story, peach-colored commercial office building with rows of windows.
An illustration of two commercial buildings on a patch of green grass. In the foreground is a multi-story, peach-colored building, and behind it to the right is a tall, modern grey skyscraper with a red "BANK" sign near its entrance. Hovering above the buildings to the left is a large grey shield outline containing a green checkmark, symbolizing protection, security, or property insurance.

The easy, affordable and professional way to ensure your buildings are insured for the correct amount.

Insurance can be complicated. And when it comes to insuring your buildings, something called the Average Clause can easily catch you out. But don’t worry! We’re here to help explain the problem and put it right – easily, professionally and affordably.

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On-Site ASSESSMENTS

As an RICS-regulated firm, a Chartered Surveyor will physically visit
your site to assess and accurately report on replacement costs.

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More than 9 out of 10 Irish buildings are underinsured

A 2023 industry infographic about property insurance in Ireland. On the left, a large dark blue banner points down, displaying "83%" in light blue numbers. To its right, text reads, "Underinsured: 83% of Irish properties are underinsured. This can severely reduce the amount paid out following a property damage claim." Below the banner is an illustration of a stack of gold Euro coins. Tiny illustrated figures are interacting with the scene: a woman in red stands on the top upright coin reaching toward the 83% banner, a person walks on a lower coin, and a man walking a dog stands at the base of the stack. To the right of the coin stack, a second block of text reads, "Not Enough: We find that on average, underinsured buildings are covered for just 66% of the amount they should be."
An infographic about overinsured properties. On the left, a tall light blue arrow points upward, displaying a large "13%". In front of the arrow is a tall, slightly uneven stack of gold Euro coins. Two tiny illustrated men in business attire stand on top of the stack, and a tiny woman stands at the base next to two large coins leaning against the pile. To the right, the top text block reads, "Overinsured: 13% of Irish properties are overinsured. If this is you, you're paying more than you need to for your insurance." Below this, a second text block reads, "Too Much: While overinsured buildings are on average covered for 132% of the correct amount."

Who Do We Work With?

Commercial Policyholders

Commercial Policyholders

Worried your property might not be covered for how much it should be? No problem. Don’t fall victim to the dreaded Average Clause! Take the first step to make sure your building is insured for the right amount by ordering a Rebuild Cost Assessment today.

An illustration of two female professionals in business attire standing with a miniature model house. The woman on the left has blonde hair, wears a dark suit, and rests her hand on the roof of the house. The woman on the right has dark hair, wears a grey suit jacket with a dark skirt, and holds a black briefcase. The image conveys themes related to real estate, property management, or business.

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

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 & MGA’s

Insurance Companies Underwriters & Mga’s

Removing the Average Clause is a great way of simplifying your product and demonstrating 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!

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Why is the Rebuild Cost Review important?

According to SCSI – Ireland’s leading body for property, land and construction professionals, the national annual rate of construction price inflation is now running at 14% .Lockdowns due to Covid, supply chain shocks and the war in Ukraine have seen tender price inflation rise by 22% over the past 18 months.

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Rebuild 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.

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