All homeowners should ensure that both the contents and structure of their home (and any other property they own) is adequately insured, for example in the event of fire or any other catastrophe. Most Mortgage Lenders require that adequate reinstatement insurance is maintained as a condition of their mortgage loan.
Most insurance companies will provide Building Insurance cover based on the Reinstatement Value of the insured property. This is not normally the same as the Market Value, as it includes other factors such as demolition, professional fees, but would not normally include things such as the value of the land itself.
An RICS Homebuyers Report normally includes an Insurance Valuation as an integral part of the service. The RICS Building Survey report does not normally include an insurance valuation as an integral part of the report, although we would of course be happy to provide this in addition should you require one.
Anglia Building Surveying offer a full Insurance Reinstatement Valuation Service, which is carried out in accordance with RICS Guidelines and is suitable for most UK Insurance Policies. We would, of course, be pleased to tailor any specific requirements that your insurance company may require.