Reinstatement Cost Assessments Flashcards
1
Q
What should be referred to when the lender requests an insurance replacement cost?
A
It should be produced in accordance with the Building Cost Information Service (BCIS) Guidance
2
Q
Do the costs on a insurance replacement cost include VAT?
A
No the VAT is normally excluded except on fees.
3
Q
Explain what is included in a reinstatement/replacement Cost for insurance Purposes.
A
. Demolition
. Shoring up and weather-protection of adjoining buildings
. Rebuilding costs
. Professional fees
