February 2026 Round-Up - Reinstatement Cost Assessments
February 2026 has seen a noticeable increase in instructions for Reinstatement Cost Assessments (RCAs).
A Reinstatement Cost Assessment determines the cost to rebuild a property from scratch in the event of total loss. This is not the same as market value. Instead, it reflects demolition, professional fees, statutory compliance and current construction costs using recognised BCIS data.
As Chartered Surveyors regulated by the Royal Institution of Chartered Surveyors (RICS), we prepare clear, insurance-ready reinstatement figures suitable for submission to insurers and brokers.
Why we’ve seen more RCA instructions
Recent instructions have typically involved:
Insurance renewals where rebuild figures have not been reviewed for several years
Extended or altered properties requiring updated sums insured
Buy-to-let landlords seeking structured risk management
Higher value or non-standard homes where online calculators are insufficient
With construction costs fluctuating over recent years, relying on historic or automated figures can expose property owners to underinsurance. In a claim scenario, this can significantly reduce payouts.
BCIS materials cost inflation
As shown in the BCIS Materials Cost Index graph below, construction materials inflation rose sharply between 2020 and 2022, reaching historically high levels. This period significantly increased rebuild costs across the UK.
Although inflation has moderated since 2023, overall cost levels remain materially higher than pre-2020 norms. In simple terms, the rate of increase has slowed — but the base cost of rebuilding has not returned to where it once was.
For property owners, this means reinstatement figures set several years ago may no longer reflect current rebuilding costs. Regular review of the sum insured remains essential to avoid underinsurance.
If you would like to learn more about how a Reinstatement Cost Assessment is prepared, what is included, and whether your property may require one, please visit our dedicated Reinstatement Cost Assessments page for further information.
About Navah Consulting Ltd
Navah Consulting is a firm of Chartered Building Surveyors and Valuers that specialises in surveying services throughout Hertfordshire, Essex, Cambridgeshire, London, and Suffolk.
We offer a full range of surveys and valuations, including the RICS Home Survey Level 2 (Home Buyer Report) and RICS Home Survey Level 3 (Building Survey). We’re also happy to advise on RICS Valuation, Reinstatement Cost Assessments and Defect Analysis for a range of purposes.
Our Contract Administration services help ensure your project is managed effectively from start to finish.
Navah Consulting aims to provide all services in a straightforward, efficient and client-focused manner. We understand the importance of providing reports and services in a concise, jargon-free format, in a quick time frame. Check out our reviews page here.
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