Building Valuations

Ready to make a difference

In association with Barrett Corp & Harrington

In February 2022, of 1,262 surveys completed for Howden clients, we found that 77% of them were underinsured. Of these, the average declared value increase required was 36%. We’ve since carried out a further 661 surveys, now showing that 84% of these clients are underinsured, with an average increase of 57% required.

If a property is underinsured, the insurer is likely to apply the Condition of Average clause, whereby the amount of the claim is reduced proportionally to the value of underinsurance. It’s also possible that the insurer may be entitled to void the policy if it appears that the risk was unfairly presented.

We therefore offer two building insurance rebuild valuation services to support your asset management and ensure they are valued correctly.

Our solutions

What is it?

Benchmark e-valuation is a fast and affordable desk-based method for establishing an accurate rebuild value. This virtual RCA allows you to save at least 80% of the cost, compared to a site-based RCA. For large portfolios, we also include a three-year valuation service.

E-valuations are created to calculate rebuild costs, estimating the true reinstatement sum insured within 10% accuracy of a surveyor undertaking a full survey. They’re delivered within 72 hours of instruction and are based on:

  • Access
  • Digital planning data
  • Information provided by you
  • Latest digital mapping data
  • Location

This service is supported by some major insurers for average waiver guarantee.

Cost: £99 + VAT

Who's it for?

This desktop e-valuation is intended for any client who has not had their buildings professionally valued in the last 12 months. Designed for single buildings only, the maximum Building Declared Value must not exceed £5m for commercial property and £2m for residential property. We can also carry out this service on buildings listed up to Grade II (Grades I and II* will require a physical RCA, which is also available).


What is it?

This traditional ‘boots on the ground’ professional building insurance evaluation has been created to establish the correct building reinstatement sum insured. It’s supported by major insurers for average waiver guarantee and complies with the Royal Institution of Chartered Surveyors (RICS).

Who's it for?

This building insurance evaluation service is provided for any client who has not had their buildings professionally valued in the last 12 months. It’s suitable for single or multiple buildings.

Questions to ask which may indicate a property is incorrectly valued or should be considered for an RCA

  • Has a professional reinstatement assessment been carried out in the last 12 months? Covid-19 has had a dramatic impact on the cost of building materials.
  • Does the building have extensive external features such as yards, car parks or gardens?
  • Has the building recently been altered or extended?
  • Has the property been built with new eco-friendly features or designs?
  • Have changing building regulations been accounted for?
  • Is the location of the premises difficult to access (town centres, terraced buildings)?
  • Is the market value being used as the reinstatement value?
  • Is the property listed?
  • What is the age of the property? Older buildings often cost more to rebuild.

Costs for commercial and residential building evaluations

Current declared valueMaximum fee (plus VAT)
>£20mPrice on application

Costs for flat evaluations

Number of flatsMaximum fee (plus VAT)Discounted fee per flat (plus VAT)
>350£3,675Price on application

Ready when you are

Do you have an existing policy with Howden?

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What to do if you are experiencing financial difficulties

We recognise that the current economic conditions are putting pressure on many households and businesses. At Howden, we are committed to finding ways to assist our customers who may require additional support during these times.

If you’re currently facing financial difficulty, please speak to us about your insurance policies by:-

-contacting your Howden Service Team; 
-calling Howden on 020 7623 3806;
-using the Enquiry form.