The short answer
It depends on the building and the purpose of the figure. For most properties, particularly blocks, period buildings and anything altered or non-standard, a site inspection gives the most reliable basis, because measurements, construction and access constraints can be checked directly, and a full assessment to RICS practice normally involves a site visit. A desktop review, drawing on existing drawings, floor areas and reliable recent records, can sometimes suit an interim update between full assessments. We advise which basis suits your building, and set out clearly in the report what was inspected and what was assumed.
Choose the method by building complexity, purpose and reliability of the available records, then state inspected facts and assumptions clearly.
Where further evidence may be needed
Does the report include VAT and professional fees?
Yes, where relevant. The assessment includes professional fees, statutory charges, demolition and site clearance, and VAT on the elements where it applies, alongside the rebuild cost. The assumptions and the VAT position are clearly stated in the report so the figure can be understood and relied on at renewal.
Turning the answer into a next step
How is the sum insured kept up to date between full assessments?
Between full professional assessments the reinstatement figure is usually kept current through index-linking, where the insurer adjusts the sum insured in line with a construction cost index at each renewal. Index-linking helps offset general building cost inflation, but it does not capture changes to the building itself, such as an extension, refurbishment or altered specification. RICS good practice is therefore to obtain a fresh professional assessment periodically, with a figure commonly cited around every three years, and to rely on index-linking only in the years between full reviews.
What to do next
Use a site inspection for most blocks, period buildings and altered or non-standard property.
Use reliable drawings, floor areas and recent records for a possible interim desktop review.
Check measurements, construction and access constraints on site where required.
State what was inspected and assumed in the report.
Related services
Sources and standards
Related questions
What is a reinstatement cost assessment?
A reinstatement cost assessment (RCA) is a professional estimate of the cost of rebuilding a property after a total loss, for insurance purposes. It covers demolition and site clearance, rebuilding to current building regulations, professional fees, statutory charges and VAT where applicable, plus an allowance for inflation. It is the figure your buildings insurance sum insured should be based on, and it is different from market value or any mortgage figure.
Do you inspect residential blocks?
Yes. Residential blocks are a core focus. We inspect the building and review measurements, construction, communal areas, plant rooms, lifts, roofs, basements and external works, and produce a whole-building reinstatement figure suited to block insurance renewal for freeholders, RMCs, RTM companies and managing agents.
Will the report explain any unusual cost drivers?
Yes. Where the building has abnormal features, listed or heritage constraints, difficult access or unusual construction that may affect rebuild cost, those factors are identified and explained in the report, along with the assumptions and exclusions, so the figure is transparent rather than a single unexplained number.
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Savas Bulduk
BSc (Hons) MRICS, Director & Chartered Building Surveyor.
Writes on Building surveying, Fire safety and facade, External wall systems, Technical due diligence, Contract administration. See the full team profile.
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