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Reinstatement Cost Assessments

It is important that your property is adequately insured to avoid any unexpected costs and shortfalls of insufficient funds to rebuild or repair. Nationally building costs have increased on average 63% over the past 10 years and 230% over 20 years.

The following table demonstrates the inflationary increase in property costs with an initial outlay of $100,000 on an annual basis.
Building costs have been calculated using Building Indices from:
Edition 31- Rawlinsons ConstructionHandbook 2013
The most common reason to carry out a RCA is to ensure you have sufficient funds based on current market rates to repair or rebuild in the event of damage or destruction.

The second reason is to ensure that the building is not over-insured and that you do not pay excessive premiums.

It is recommended that a new RCA is carried out on a property every 3 years to ensure accuracy. Our report will enable your building insurer to identify the risks and calculate an appropriate premium.

We will review any type of property or properties, Koste can help with all your Reinstatement Cost Assessment needs including the management of Portfolio Reinstatement Cost Assessments.

To find out more please call one of our team members on 1300 669 400 or email info@koste.com.au where we will be sure to assist.
Reinstatement Cost Assessments
Each RCA is unique to a property, however will typically include allowances for the following in our detailed RCA report:

•An estimate of rebuild cost

•External works including services

•Demolition and site clearance costs

•Any shoring / waterproofing required to surrounding buildings and land

•Professional fees associated with the reinstatement work

Our reports are prepared by qualified surveyors and experts in the assessment of RCAs adhering to the RICS industry standards.