Reinstatement Cost Assessment (RCA)

Coomber Associates were appointed by an Academy Trust to undertake an RCA of a primary school following a request from their insurance company for up to date insured figures. 

An RICS Reinstatement Cost Assessment (RCA) is a professional valuation provided by a chartered surveyor to estimate the cost of rebuilding a property from scratch in the event of total destruction, typically due to fire, flood, or other catastrophic damage. It includes the cost of demolition, site clearance, materials, labour, professional fees, and compliance with current building regulations. The RCA ensures that the building is adequately insured, helping to avoid the risks of underinsurance or overinsurance. 

Carried out in accordance with Royal Institution of Chartered Surveyors (RICS) guidelines, the assessment reflects current construction costs and is tailored to the specific features, size, location, and complexity of the building. It is especially important for property owners, insurers, and property managers to ensure that insurance policies cover the full cost of reinstatement. RICS recommends that RCAs be reviewed annually and fully reassessed every three years or whenever significant changes are made to the property.