Reinstatement cost assessments for block managers.
Protect leaseholders from underinsurance. RICS‑regulated assessments accepted by all major insurers, BCIS‑indexed and typically delivered within 48 hours.
The basics
Why block managers need an accurate reinstatement figure.
It’s the cost of rebuilding the whole block from scratch, structure, fees, debris removal, and current building regulations. That’s the figure the buildings insurance should be based on, not the block’s market value.
Most block policies apply a condition of average, so if the sum insured is too low, a claim is cut by the same proportion, and that shortfall lands on leaseholders through the service charge. That’s why RICS recommends a full reassessment every three years.
Common challenges
Where block cover slips out of step.
Since Grenfell, leasehold block insurance has been under intense scrutiny: the FCA found the amount brokers earn on multi‑occupancy buildings insurance rose by nearly 40% between 2019 and 2022 (FCA). An out‑of‑date rebuild figure only adds to a bill leaseholders already feel.
Leaseholders left exposed
Without a recent valuation, a block’s sum insured can fall well short of the true rebuild cost, and any shortfall passes to leaseholders through the service charge. An accurate figure protects every resident.
Index‑linking drifts
Annual index‑linking uses a broad inflation rate that can’t track a block’s real local build costs. A full review every three years keeps the sum insured aligned with reality.
Insurers query the figure
Without a RICS‑regulated report to support the sum insured, insurers can query cover at renewal, causing delays and higher premiums. A current figure keeps renewals straightforward.
How we help
Keeping every block accurately insured.
A RICS assessment per block
An accurate sum insured that protects every leaseholder.
Accepted by all major insurers
BCIS‑indexed figures ready for renewal, without challenge.
Delivered in 48 hours
Desktop or on‑site, so overdue blocks are quickly up to date.
Recommended for you
The right assessment for block managers.
Best fit · 3‑year protection
3‑year RICS protection plan
Blocks need to stay accurately insured year after year, not just once. The 3‑year protection plan pairs a full RICS assessment now with automatic indexed updates each year, so leaseholders stay properly covered as costs rise, with no repeat admin for you.
- shieldA full RICS assessment now, plus indexed updates for three years.
- groupsLeaseholders stay protected as rebuild costs rise.
- event_repeatNo need to re‑instruct a new valuation each year.
Frequently Asked Questions.
Common questions about reinstatement cost assessments for blocks of flats, sums insured, and leaseholder protection.
What is a reinstatement cost assessment for a block of flats?
It is a professional calculation of the full cost of rebuilding a residential block from the ground up if it were destroyed, including demolition, debris removal, professional fees, and compliance with current building regulations. It is the figure the block’s buildings insurance sum insured should be based on, and it protects every leaseholder if a major claim arises.
Why is an accurate sum insured so important for leaseholders?
Most block policies contain a condition of average. If the sum insured is lower than the true rebuild cost, the insurer can reduce a claim payout in proportion to the shortfall, even for a partial loss such as a fire in a single flat. That shortfall usually falls back on leaseholders through the service charge, so an inaccurate figure exposes every resident in the building.
Isn’t annual index‑linking enough to keep the figure accurate?
Index‑linking helps, but it applies a general inflation adjustment and cannot account for local labour shortages, material price spikes, or changes to building regulations. Over several years the insured figure can drift well below the true rebuild cost. This is why RICS recommends a full reinstatement cost assessment at least every three years, with index‑linking used only in the intervening years.
How often should a block reinstatement cost assessment be updated?
RICS guidance recommends a full reassessment at least every three years. Earlier reassessment is sensible after significant works, an extension, a change in construction, or a period of unusually high construction‑cost inflation.
Will insurers accept the report at renewal?
Yes. Every assessment is RICS‑regulated and BCIS‑indexed, and is prepared to be accepted by all major insurers as evidence of an adequate sum insured, which helps avoid queries, delays, and disputes at renewal.
Do you offer desktop or on‑site assessments for blocks?
Both. Standard blocks can often be assessed accurately by desktop using property records and BCIS cost data, while larger, complex, or non‑standard blocks benefit from an on‑site survey. We advise on the right approach for each building.