IRV ASSESSMENTS

An Insurance Reinstatement Valuation (IRV) assessment is a detailed report relied upon by commercial property owners when assessing the potential cost to rebuild a premises for insurance purposes.

Should a commercial property be destroyed by a fire or other potentially catastrophic event, the declared value will be used by insurers to determine the reinstatement cost – the payout.

Trinity Rose Chartered Surveyors acts for commercial property owners, landlords and tenants (depending on lease obligations) who require robust, detailed reports for insurance reinstatement valuations. Please get in touch if you’d like us to produce your IRV report.

There’s no substitute for professional, precise IRV reporting

Otherwise known as the ‘Day One’ reinstatement figure, it is imperative the declared IRV of a property is expertly calculated so that, in the event of damage or destruction, sufficient costs will be allowed to rebuild the property to the same, but not better than, condition it was originally in. A thorough acquisition survey will serve as an invaluable resource when it comes to avoiding shortfalls of repair or betterment.

Underestimating the IRV could prevent a building owner receiving enough funds to restore the commercial property to its original state while an overestimation will result in excessive insurance premiums being paid. There really is no substitute for professional, precise and reliable IRV reporting; indeed, an IRV should be carried out regularly, ideally every three years, to ensure valuations remain accurate.

Trinity Rose Chartered Surveyors undertake initial and updated IRV assessments that will take into account a building’s age, size, construction, condition, location, historical merit, specific features and associated services and utilities. Our surveying team is highly experienced in all these areas and will produce a lengthy and scrupulous report that takes all factors into consideration in line with RICS practice standards.

If you’d like to arrange an IRV or talk to a specialist surveyor for impartial, expert advice, please get in touch.

  • Accurate IRV reporting to ensure level of insurance remains appropriate
  • Expert valuations from specialists in construction and pricing indices
  • Protection for building owners, landlords and tenants in the event of damage or destruction
  • IRVs that cover all elements of building reinstatement costs
Rent Reviews - Trinity Rose
IRV Assessments - Trinity Rose
IRV Assessments - Trinity Rose

COST
MANAGEMENT

OUR BOOKABLE SERVICES

CASE STUDIES

Trinity House, 123 Winchester Road, Chandlers Ford, Hampshire SO53 2DR

t: 01962 880426

Top Floor, Trinity House, 123 Winchester Road, Chandlers Ford, Hampshire SO53 2DR

t: 01962 888900

Trinity House, 123 Winchester Road, Chandlers Ford, Hampshire SO53 2DR

t: 01962 880426