Insurance Assessments
Buildings insurance for commercial properties requires an accurate value known as the Buildings Sum Insured to ensure there are sufficient funds to cover full replacement of the property in the event of a total loss caused by an insured peril (e.g. fire, flood, subsidence).
Insurers recommend a survey by a Building Surveyor every 3–5 years as part of a formal Reinstatement Cost Assessment (RCA). Annual updates via a desktop RCA between formal survey years help maintain the accuracy of the insured sum.
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