Reconstruction Value Appraisal | Expert Appraisal

Why a rebuild value appraisal is important

Do you ever wonder what amount your building is actually insured for? Correctly estimating the rebuild value of your commercial or residential building is more than a formal requirement of your insurer. It is your safety net in times of unexpected events such as damage or loss. But how sure are you of the amount you are insured for and what if that amount is incorrect?

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Insurance based on proper assessment of rebuilding value

An incorrect rebuild value can have more consequences than you might think. With insufficient insurance, in the event of damage, not all costs may be reimbursed and additional expenses will be your own responsibility. An overestimation of the reinstatement value, on the other hand, can result in an unnecessarily high insurance premium. These are extra costs that you would rather spend elsewhere. It is therefore advisable to check the current insured amount and adjust it if necessary.

An appraisal on a fixed basis is the solution

At FH Appraisals, we understand that determining the correct reconstruction value yourself can be difficult. That's why we recommend a fixed appraisal based on Section 7:960 of the Civil Code. This appraisal takes various factors into account, such as unique features and market conditions. In this way, the correct value is determined and there is no question of over- or underinsurance. With a fixed appraisal according to the article of law, discussion about the insured value in case of damage can be avoided.

Why should you choose a rebuild value appraisal?

A reconstruction value assessment is appropriate for anyone who owns a building. Whether you are a business, owners association, investor, social institution, municipality or private individual, we are here to help.

Avoid overinsurance and save on insurance premiums

Prevent underinsurance and avoid discussion in case of damage and/or loss

Minimize financial risks in the event of damage and/or loss

Why FH Appraisals?

At FH Appraisals, you can always count on:

Personal contact and clear advice

Expert appraisers with VRT certification, extensive industry knowledge and years of experience

Clear and understandable communication

A fast, careful and professional approach to every valuation

Our experience

At FH Appraisals, we know what we're talking about. After our inception in 2020, we have made great strides and have grown solidly. We have strengthened our team with experienced industry professionals. We are proud to say that we are now a mid-sized appraisal firm.

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Discover the possibilities

We perform all of our appraisals with enthusiasm. It is important to us that you are helped as quickly as possible. Therefore, we are easily accessible and respond immediately to your question or request. Please contact me without obligation!

Ivar de Vries

06-28845831

ivar@fh-taxaties.nl

Frequently asked questions about rebuild value appraisal

Do you have questions about rebuild value appraisal? Our FAQ section provides answers to the most common questions and supports you in making informed decisions.

When is a (re)appraisal based on replacement cost necessary?

In many cases, an insurance company requires a replacement-cost appraisal. A building appraisal based on replacement cost is also necessary if there is any doubt about the accuracy of the current insured amount or to ensure that the property is insured on a fixed basis.

A building appraisal based on Article 7:960 of the Dutch Civil Code (replacement cost) is valid for six years. Most insurers adhere to this validity period. After this period expires, most insurers require a revaluation in order to maintain coverage on the same basis. This revaluation is then valid for another six years. In many cases, insurers use an index figure to keep the insured amount somewhat up to date.

If, within the validity period of a valuation we previously performed, we receive a request for a revaluation, we always offer a revaluation discount on the rates in effect at that time.

What is the difference between appraisal by reconstruction value and market value?

The main difference between an appraisal based on rebuild value and market value lies in the purpose of the appraisal. An appraisal based on rebuild value estimates the cost to rebuild the property in the event of a total loss and is primarily important for insurance purposes. It ensures that the property is not underinsured or overinsured. An appraisal based on market value, on the other hand, determines what the property is worth in the current real estate market, crucial for buying or selling the property, obtaining financing, or for valuing the property in financial records.