With under insurance potentially leading to shortfalls in claim settlements, and over insurance resulting in excess premiums for no benefit, the provision of researched, independent reinstatement cost assessments (often also referred to as insurance valuations) is a vital part of any risk management programme, particularly in high inflation environments.
Supporting clients, brokers, insurers and risk managers, Charterfields is experienced in providing assessments designed around the precise requirements of a cover programme, reporting on a wide variety of risk categories, across a diverse range of sectors.
We work closely with clients, providing assessments with reports providing rebuilding or replacement asset costs, including the costs of debris removal and professional fees, and advice on the treatment of non-recoverable taxes, where applicable.
We also include commentary on the estimated reinstatement period, to ensure that the policyholder and their advisors have sufficient understanding of the business interruption period they may need to accommodate.
As specialists in assessments for insurance, we understand the nuances of insurance coverage and when appropriate we can advise on indemnity or actual cash value figures.
Our independence means that all stakeholders in the insurance chain can view our assessments as impartial in the event of a loss.
For each assignment we dedicate team members with specific expertise in the client’s sector, ensuring that the process is quick, seamless and that the results.
Our reinstatement cost assessments include the following assets:
- Buildings, building services, civil works, utilities and tenants’ improvements.
- heritage or listed buildings and structures.
- Manufacturing and production plant and equipment, industrial fixtures and fittings, process related services and contents.
- Information and telecommunications hardware.
- Stock and tooling inventories.