Building Valuations

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In association with Barrett Corp & Harrington

Based on 1,262 surveys carried out on Aston Lark clients, 77% were found to be underinsured, and of these, the average increase required was 36%.

If a property is underinsured, the insurer is likely to apply the Condition of Average clause, whereby the amount of the claim is reduced proportionally to the value of underinsurance. It’s also possible that the insurer may be entitled to void the policy if it appears that the risk was unfairly presented.

We therefore offer two building insurance rebuild valuation services to support your asset management and ensure they are valued correctly.

Benchmark E-valuation   Building Insurance Reinstatement
Cost Assessments (RCAs)

Benchmark E-valuation

What is it?

Benchmark e-valuation is a fast and affordable desk-based method for establishing an accurate rebuild value. This virtual RCA allows you to save at least 80% of the cost, compared to a site-based RCA. For large portfolios, we also include a three-year valuation service.

E-valuations are created to calculate rebuild costs, estimating the true reinstatement sum insured within 10% accuracy of a surveyor undertaking a full survey. They’re delivered within 72 hours of instruction and are based on:

  • Access
  • Digital planning data
  • Information provided by you
  • Latest digital mapping data
  • Location

This service is supported by some major insurers for average waiver guarantee.

Cost: £99 + VAT

Who’s it for?

This desktop e-valuation is intended for any client who has not had their buildings professionally valued in the last 12 months. Designed for single buildings only, the maximum Building Declared Value must not exceed £5m for commercial property and £2m for residential property. We can also carry out this service on buildings listed up to Grade II (Grades I and II* will require a physical RCA, which is also available).

Building Insurance Reinstatement
Cost Assessments (RCAs)

What is it?

This traditional ‘boots on the ground’ professional building insurance evaluation has been created to establish the correct building reinstatement sum insured. It’s supported by major insurers for average waiver guarantee and complies with the Royal Institution of Chartered Surveyors (RICS).

Who’s it for?

This building insurance evaluation service is provided for any client who has not had their buildings professionally valued in the last 12 months. It’s suitable for single or multiple buildings.

Questions to ask which may indicate a property is incorrectly valued or should be considered for an RCA
  • Has a professional reinstatement assessment been carried out in the last 12 months? Covid-19 has had a dramatic impact on the cost of building materials.
  • Does the building have extensive external features such as yards, car parks or gardens?
  • Has the building recently been altered or extended?
  • Has the property been built with new eco-friendly features or designs?
  • Have changing building regulations been accounted for?
  • Is the location of the premises difficult to access (town centres, terraced buildings)?
  • Is the market value being used as the reinstatement value?
  • Is the property listed?
  • What is the age of the property? Older buildings often cost more to rebuild.
Costs for commercial and residential building evaluations
Current declared value Maximum fee (plus VAT)
<£1m £490
<£2.5m £680
<£5m £880
<£10m £1,460
<£15m £1,950
<£20m £2,340
>£20m Price on application
Costs for flat evaluations
Number of flats Maximum fee (plus VAT) Discounted fee per flat (plus VAT)
<5 £365
<20 £400
<75 £400 £20
<100 £1,500 £17.50
<150 £1,750 £12.50
<350 £1,875 £10.50
>350 £3,675 Price on application

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