Tim Greenwoods and Associates are delighted to have been instructed to prepare Reinstatement Cost Assessments of residential care homes in Worthing, West Sussex.
Our Client owned and managed a number of residential care homes for the elderly and was due to renew their buildings insurance policies on two properties. The sums previously insured had not been reviewed for a number of years so we were instructed to prepare current reinstatement cost assessments on both properties.
We undertook inspections of the properties. We measured the buildings and noted the nature of the construction along with the general condition and level of finishes. In undertaking the inspection we took measurements of the external areas and boundaries. This allowed us to calculate the cost of reinstating the external areas in the event of an insurance claim for total loss of the entire site.
We prepared the calculations on which the Reinstatement Cost Assessments of the residential care homes were based. Our assessments set out the reinstatement costs and the basis of the assessment. The reports also highlighted issues that needed consideration when seeking the most appropriate insurance policies.
The Reinstatement Costs Assessments enabled the Client to correctly insure the properties. The assessments also highlighted that one of the properties was previously under insured. Under insuring a building can impact an insurance payout in the event a claim.
