Services
Fire Insurance Assessments
Are you confident that your property is adequately insured in line with a Fire Insurance Assessment?... If not, it is more unlikely that a claim will be met in full!
Most businesses assume that their properties are adequately insured – until it comes to making a claim. Insurance companies employ loss adjusters to protect their own interests and making a justifiable claim can be complex and time consuming.
The simple way to avoid all of these difficulties is by ensuring that your property is sufficiently covered against a total loss.
BNE assessments can help you to avoid losing out financially by allowing for all costs following a total loss event – most commonly fire. These costs can include:
- Demolition, site clearance
- Proper repair and weather proofing of attached or adjacent buildings
- Salvage
- Design and Local Authority fees
- Professional fees
- Rebuilding costs
- VAT (if unrecoverable)
The fact is that the costs of reinstatement may generally bear no relation to market value. It is particularly important to have your building's insured sum reassessed after the property has been refurbished, extended or altered in some other way otherwise your cover may not be sufficient.
It is also advisable to have a formal valuation undertaken every 5 years as most policies are inflated by the retail price index. This can be generally less than the increase in building and property costs and could result in you being under-insured.