INDUSTRIAL & COMMERCIAL REAL ESTATE BRISBANE QUEENSLAND AUSTRALIA

News

Are your fire insurance assessments up to date?

Damage to property and buildings by fire and other disasters, natural or otherwise, costs Australians hundreds of millions of dollars every year. In Australia, the most common building disaster is fire, so it is important to be prepared.

Napier & Blakeley’s fire insurance assessments are called reinstatement cost assessments. The function of these assessments is to determine the amount a property needs to be insured, to cover the possibility of damage from a disaster. This can include the demolition of the remaining component of the property followed by reconstruction.

Advertisement:

Construction markets nationally have gone through significant upturns in cost in recent years. While the increase in these costs may have slowed, they are still far greater than they were a few years ago.

Fire or disaster can have a direct impact on the business operations within a building and many building owners do not adequately factor items such as loss of profits or business interruption into the building insurance equation, leaving themselves under insured.

Over insurance is equally detrimental to business performance. Insuring a property for more than its true worth provides no tangible benefit and may increase the building’s outgoings unnecessarily.

Napier & Blakeley will ensure you are insured for the right amount. The assessments we provide take many factors into account in determining the cost of reinstating property. Our quantity surveyors are capable of determining the true demolition and reconstruction costs of a property. Valuers value, architects design and builders build, but none are real cost experts

Full assessments by Napier & Blakeley are vital in analysing the true extent of loss in the event of a disaster and enable property owners to secure the right insurance cover at the best available premium.  Our quantity surveyors are skilled in the area of construction costs and have daily exposure to changes in the marketplace affecting labour, materials and procurement.

For more information about how Napier & Blakeley can help you with your building insurance contact Raine & Horne Commercial’s Business & Client Manager on 07 3216 6666 and he will introduce you to a Napier & Blakeley Consultant.