A rebuild evaluation from a professional quantity surveyor ensures you have an accurate Sum Insured amount to lodge with your insurance company. Suckling Stringer undertakes the full spectrum of insurance due diligence which involves a complete measure and itemisation of your property to ensure your value for insurance purposes will actually be enough to rebuild your home after a destructive event.
With earthquakes and other natural disasters an ongoing concern for New Zealand insurers, reviewing the scope of insurance valuations is necessary.
Insurance companies and banks only calculate your Sum Insured over the phone, typically based on the square meterage of a property. This is a dangerous precedent they have set because such institutions dramatically underestimate the costs of rebuilding in today's market. With a bank/insurance company-directed Sum Insured, there is no guarantee the sum will be sufficient to cover the costs of rebuilding. When a m² sum is appropriated to your house, this only represents the land and real estate market value of a property of that size, not the replacement costs.
Suckling Stringer is up-to-the-minute with rebuild costs in New Zealand throughout the construction industry. With a quantity surveyor's insurance valuation report, you can provide your insurance company with the most faithful and respected form of property value documentation, which that company will then ratify and insure your property for. This gives you peace of mind for if (and when) a building you own is affected by a disaster and independent valuations are required for accurate insurance pay-outs and rebuilds.
Professional quantity surveyors can assist you in determining your rebuild value (insurance valuation) to mitigate the risk of your home being underinsured in the event of a total loss. Both residential rebuild valuations and commercial rebuild valuations are available through Suckling Stringer.