If you own property, having an accurate building insurance valuation carried out is essential. Whether you’re insuring a residential, commercial, or mixed-use building, an up-to-date valuation ensures you’re not paying too much in premiums or, more seriously, leaving yourself underinsured in the event of a claim. At Hair & Son, we provide expert building insurance valuations throughout Essex and the surrounding areas, helping property owners protect their investments and avoid unnecessary risk.
Why Are Building Insurance Valuations Important?
A building insurance valuation provides an accurate assessment of your property’s rebuild cost, rather than its market value. This figure includes demolition, site clearance, materials, labour, and professional fees required to restore the building following major damage, such as fire or structural failure.
If your building is underinsured, any insurance payout may fall short of the actual cost to rebuild, leaving you to cover the difference. On the other hand, overestimating can result in unnecessarily high premiums. Regular valuations, ideally every few years, will ensure your policy accurately reflects the true rebuild cost of your property.
What’s Included in a Building Insurance Valuation?
At Hair & Son, our comprehensive building insurance valuations take into account:
- Current construction costs. These are based on standard pricing within the industry as well as local market conditions.
- Demolition and site clearance. Includes the safe removal of debris and hazardous materials.
- Labour and materials. Enables the structure to be rebuilt to its previous state.
- Professional fees. Covers costs for architects, surveyors, structural engineers, and project managers involved in the rebuilding process.
- Compliance with modern building regulations. Ensures the reconstructed property meets current regulations, which may be different from those in place when the building was originally constructed.
- Specialist considerations. For listed or heritage buildings, we account for any additional costs related to sourcing traditional materials or complying with conservation requirements.
Each valuation is tailored to the unique characteristics of your property and delivered in line with RICS (Royal Institution of Chartered Surveyors) guidelines, ensuring accuracy and reliability.
Why Choose Hair & Son?
With over 90 years of experience in the property industry, Hair & Son is a trusted name across Essex and the surrounding areas. Our team of RICS-qualified surveyors combines technical expertise with in-depth local knowledge to deliver accurate, detailed, and compliant building insurance valuations.
All valuations are carried out by professionals who adhere to RICS standards, ensuring the highest level of accuracy and reliability. We tailor each valuation to the unique characteristics of your property, taking into account its type, size, age, location, and usage. This personalised approach ensures the final report is not only accurate but also relevant to your insurance needs.
If you require a building valuation for insurance purposes, get in touch with our friendly and experienced team today. We’re here to provide clear, professional advice and help you make informed decisions about your property’s insurance coverage.
To find out which survey is the right option for you, and to discuss the different surveys in more detail, our team are always here to help. Get in touch today.