Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is the re-build or re-instatement value of the property?

0
10 Posted

What is the re-build or re-instatement value of the property?

0
10

The re-build or re-instatement value is how much it would cost to re-build the property if it were totally destroyed. Buildings should always be insured for their re-build value and NOT the market value. The reason for this is that the market value is affected by the location of the property and takes into account the cost of the land on which it is built. The rebuild value of a property will remain constant, only increasing in line with inflation, regardless of the market value.

Related Questions

What is your question?

*Sadly, we had to bring back ads too. Hopefully more targeted.