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Rebuild Cost Assessment - Under Insurance

Underinsurance occurs when you have not taken out the right amount of insurance cover to meet your requirements. To give you piece of mind, Pavey Group can offer access to an online facility providing desktop valuations for most properties. The service is provided by Rebuild Cost Assessment Ltd and is regulated by the RICS. Pavey Group can offer this service at a significant discount to clients.

Insurance policies often contain what is called the ‘Condition of Average’. It may sound complicated, but it’s really quite simple. Lets say your property is insured for £250,000, but the actual cost to rebuild should be £500,000. This means that in the event of a claim, the settlement will be reduced in proportion to the level of underinsurance. If you are underinsured by 50% then you may only receive half of the claim settlement. This could leave you with a huge amount to pay.

The costs for an online assessment per property are:

  • Commercial Property - £102 (inc VAT)
  • Residential Property - £72 (inc VAT)

Armed with the valuation and the correct level of insurance, this should remove one of the potential obstacles to the smooth handling of your claim by insurers.


For further information on a Rebuild Cost Assessment, please speak with your insurance adviser, alternatively, you can contact our offices on:

Torquay: 01803 652000 Exeter: 01392 880000 Holsworthy: 0333 2026502

*based on figures published by Rebuild Cost Assessment Ltd on 20/4/17 and their assessment of buildings (both Household and Commercial) with a collective sum insured of £1,006,032,525.


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