The Importance Of Accurate Rebuild Values

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Dabinett are instructed on a daily basis to inspect properties and prepare insurance assessments for the rebuild values.  It is the building rebuild value that is key to ensuring owners have sufficient cover. 

The type and age of buildings range vastly, from modern cutting edge school buildings with a myriad of technical problems to properties hundreds’ of years old and built in traditional materials.

We have previously written of the financial risk of being underinsured [].  Having up to date costs, especially with such a volatile and inflationary economy is crucial.

A common problem is the rebuild cost being confused with the market value. There is not necessarily any relationship between the cost to build and the market value.  In some instances the market value can be greater than the rebuild cost, but in some instances, in older properties, the market value could be less than the rebuild cost.  This can be due to the condition of the building, the local market, or being Listed or of an unusual construction.

Whatever the type of construction Dabinett can advise and probably have advised on similar properties in the past.

An overlooked aspect, topical now, is reviewing valuations.  Tender costs are increasing significantly and this is not just over the medium term of several years, but now over a matter of months.  This is a combination of increased fuel costs, changes and difficulties in imports of materials, etc.

Major changes in building standards will also see the increase of costs and the change of use of buildings.  For instance the construction cost of a three bedroom semi-detached house would be lower compared to a three flat semi-detached house that incorporates sound proofing to modern standards, additional services, etc.  The assessment of older dated buildings requires careful consideration and the simple application of average costs is too blunt an approach to protect an owner’s interests.

At Dabinett our Chartered Surveyors have expert knowledge and understanding to help guide you through the process of submitting accurate rebuild values to insurers, ensuring you have sufficient cover. Contact them today with your requirements, call 0161 292 7085 or email

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