Insurance Replacement Cost Assessments

Insurance Replacement Cost Assessments are expert reports designed to advise the estimated cost of reinstating your asset to an as new condition including, where appropriate, the use of current equivalent technology, materials and services, in the event it is destroyed or deemed a total loss.

This assessment also takes into account, aspects which you may not have considered including the cost of damage inspections, cost of demolition, removal of debris, an amount to cover professional fees such as, architects for provision of working drawings and specifications, preparation of new preliminary proposals and their statutory approval costs with the governing authority, quantity surveyors for schedules of quantities, engineers, builders, a contingency amount, plus an inflationary provision for cost escalations (this covers increased building costs between the date of cover, date of loss and the date of reinstatement).

By obtaining an Insurance Replacement Cost Assessment from Powerhouse Property Professionals, you are preventing the risk of underinsurance of your asset, or conversely, unnecessary over-insurance costs.  It is important to understand that it is not simply a case of adopting the purchase price of the property, or a value reflective of the last sale in your street, it is the cost of rebuilding your asset as defined under the definition of value, as specified within the terms of your applicable insurance policy. 

For an accurate and unbiased assessment of the insurance replacement cost of your asset, please contact Powerhouse Property Professionals on 1300 097 912 or fill out our quotation request form via the link below.