Homeowner Guide

Do I need a Reinstatement Cost Assessment?

If any of the situations below apply to you, the honest answer is almost certainly yes.

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Six Common Triggers

Situations that mean it's time to get one.

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You're buying a leasehold flat

Before you exchange, check when the block's Reinstatement Cost Assessment was last updated. An outdated or missing assessment is a red flag for future service charge disputes and a sign the building may already be underinsured.

policy

Your insurer has requested one

Some insurers ask for an independent Reinstatement Cost Assessment directly - usually for older, listed, non-standard construction, or higher-value properties where they want more certainty than a self-declared figure gives them.

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It's coming up to renewal

If your sum insured hasn't been reassessed in three years or more, renewal is the natural point to update it. Construction costs move - a figure that was accurate in 2021 is very likely wrong today.

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RICS guidance recommends a reassessment (every 3 years)

RICS professional guidance recommends a full Reinstatement Cost Assessment at least every three years, with annual index-linked adjustments in between. If you can't remember your last one, it's overdue.

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A previous claim was underpaid

If you've made a claim and the payout was reduced because of the insurer's average clause, that's a direct sign your sum insured was too low. Getting a current assessment now prevents it happening again.

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You've extended, converted or altered the property

An extension, loft conversion or significant renovation changes the true rebuild cost. The sum insured set when you bought the property no longer reflects what's actually there.

None Of These Apply?

Still worth a quick sense-check.

If you're not sure whether your current sum insured is right, start with What Is a Reinstatement Cost Assessment? and Reinstatement Cost vs Market Value to understand what the figure should actually reflect.

Getting a professional opinion is inexpensive relative to what an underinsured claim can cost you - see What Happens If My Property Is Underinsured? for a worked example.

Why Stearling Reinstatement

The trusted choice for homeowners.

RICS Regulated

Every assessment is carried out by or under the supervision of a RICS-registered member.

Fully Insured

Every instruction is covered by comprehensive professional indemnity insurance for your protection.

24-Hour Response

We respond to every enquiry within 24 hours and deliver on the timescales we agree.

Insurer-Ready Report

A clear, defensible figure accepted by every UK insurer and broker, without amendment.

Explore Further

Related homeowner guides

What Is an RCA?

A plain-English explainer - what it is, and why it's not the same as market value.

Read the guidearrow_forward

RCA vs Market Value

A clear, visual comparison of the two figures - and why they diverge.

Read the guidearrow_forward

How Much Does It Cost?

What determines price, and how to get a fixed quote.

Read the guidearrow_forward

FAQ

Common questions.

Questions homeowners ask when deciding whether they need a Reinstatement Cost Assessment.

Many homeowners never find out their sum insured is wrong until they make a claim - by which point it's too late to fix. An assessment is inexpensive relative to the risk of a reduced claim payout on a genuine loss.

Most lenders require buildings insurance sufficient for reinstatement cost as a condition of the mortgage, though they don't usually mandate a specific assessment provider. Some do request evidence of a professional assessment, particularly for non-standard properties.

Overestimating wastes money on premium for cover you can't claim beyond the true rebuild cost. Underestimating leaves you exposed under the average clause. A proper assessment is the only way to get the figure right in either direction.

There's no single UK law mandating a Reinstatement Cost Assessment for private homeowners, but your lease (if you own a flat), your mortgage terms, and your insurer's policy conditions may all effectively require an accurate figure - which in practice means a professional assessment.