Buildings insurance provides protection for the building owner/policyholder against damage caused to a property by any of the insured perils as defined in the policy documentation including fire, lightning, explosion, storm, flood, and subsidence.
In general terms, if a loss occurs the building owner/policyholder is entitled to have the property reinstated (or returned) to a position comparable to that before the loss occurred.
However, it is essential to ensure that the correct level of cover is provided. Insuring a property for less than its reinstatement value may result in the insurance company refusing to pay the full cost of repairs. Insuring a property for more than its reinstatement value would have resulted in the insurance company paying no more than the full cost of reinstatement.
The reinstatement cost of a building typically allows for the costs associated with demolition, removal and rebuilding the structure. The rebuilding must accord with the design and standards of the original structure carried out using modern materials and techniques in accordance with current building regulations and other statutory requirements. If a building is either listed or in a conservation area, allowance must be made for reconstruction in accordance with the prevailing requirements of the local authority.
Survey & Architecture Services Ltd is able to assist clients in this process and advise on the assessment of building reinstatement costs for insurance purposes for: single houses & flats; blocks of flats; and commercial properties.
A Schedule of Condition is a report recording the current condition of a property. The Schedule of Condition will often include a photographs record. We will encourage the building owners to have a Schedule of Condition of the adjoining owners property undertake prior to the commencement of works in order to ensure that the condition of the property is agreed. This will thereby safeguard the interests of both parties.
The Royal Institution of Chartered Surveyors, or RICS, is the world's leading professional body dedicated to the economics and management of land, property, construction and related environmental issues. This means any advice they given by their members will be of the highest professional standard. Members are bound by a strict code of conduct that regulates how they deal with you and your money. They must also have professional indemnity insurance.
We accept appointments from Building Owners proposing to undertake construction work coming under the Party Wall etc Act 1996 or on behalf of adjoining owners to safeguard their interests when such work is being carried out that could affect their property.
Party wall agreements contain all of the information required to be included on a party wall notice. You do not therefore need to serve a separate party wall notice if your neighbour has signed the party wall agreement. Unless you have spoken with your neighbour and know that they are willing to sign a party wall agreement you should generally first serve a party wall notice. Your neighbour can still sign a party wall agreement even after notice has been served.
Yes. We are required to maintain Professional Indemnity Insurance for all our work as a condition of being a member of the RICS. This is controlled and monitored by the Institution. Having a formal complaints procedure is also a requirement of the RICS. A copy of this can be supplied on request.
The Maidstone Studios, New Cut Road,
Maidstone ME14 5NZ
0845 5240270 / 07811 124256
