A reinstatement cost assessment is an evaluation conducted to estimate the cost of rebuilding or reinstating a property in the event of damage or destruction.

A reinstatement cost assessment helps owners and insurance companies determine the appropriate level of insurance coverage needed to rebuild a property in case of a total loss. It takes into account factors such as the size, type, and construction materials of the building, as well as the current construction costs in the specific location.

At Navah Consulting reinstatement costs assessments are completed using up-to-date BCIS (Building Cost Information Cost) data. BCIS is a division of the RICS that provides construction cost data.

Note, it is important to regularly update the assessment to account for changes in construction costs, building regulations, or any modifications made to the property that may affect its reinstatement value.