Insurance

Building Insurance Claims | Insurance Valuations

Lawrence-Vacher has wide experience of managing reinstatement works arising out of insurable risks including subsidence, heave, landslip, fire, flood, impact and storm damage, on behalf of both residential and commercial clients.

We carry out an initial inspection to assess the extent of the damage and determine whether temporary works for safety and protection are required. We determine the appropriate remedial works and advise whether or not a viable claim can be made with your insurance company or against third parties.

We inform you of the effects of Building Regulations, planning constraints and other statutory requirements and deal with party wall matters and health and safety issues.

Lawrence-Vacher will agree the remedial works with your insurance company, or their appointed loss adjuster, prepare a specification and where necessary building plans, obtain estimates and carry out regular inspections to monitor the progress and standard of the work, certify payments and deal with any variations that may occur. Following completion we scrutinise and certify the contractor's final account and agree the costs with your insurance company to enable them to complete the claim.

Where a valid claim has been accepted by your insurance company our professional fees can be included as part of the claim.

Property is a valuable asset often representing a large financial investment for an individual or a company. It is essential to protect this investment from loss due to damage and destruction. Building insurance offers a safeguard against specified perils subject to a number of exceptions specified in the insurance policy.

To benefit from this safeguard building owners must insure their property for the correct amount. Overvaluing the building insurance may result in higher than necessary premiums whilst undervaluing can result in financial loss in the event of a claim.

A buildings insurance valuation is based on the total reinstatement cost of the building, including demolition and site clearance, temporary works, construction costs, external features and professional fees. The valuation does not include occupier's fixtures and fittings or consequential losses. The valuation bears no relationship to the market value of the building.

When preparing building insurance valuations, Lawrence-Vacher visit the site to measure the building and note any unusual construction or external factors that may influence the re-building cost. If necessary, we check available record drawings, consider the policy conditions and where appropriate advise on specific inclusions.

We calculate the replacement cost of the building and provide a detailed report to the client.