Reinstatement Cost Verification
Reinstatement Cost Verification services | Property damage claim
CCi’s team of professional quantity surveyors/cost consultants, estimators, and engineers conduct an in-depth analysis to provide reliable assessments of reinstatement costs, giving you a highly accurate price-estimate to rebuild your property if it has been destroyed or significantly damaged.
Where required, we will conduct economic assessments of replacement versus repair, particularly relevant against Business Interruption (BI) or Delay in Start-Up (DSU) exposures, working with stakeholders to determine the most effective repair strategy for a property damage claim.
Throughout the reinstatement period, our chartered cost experts can assist in verifying actual costs incurred and, where necessary, delineate costs attributable to damage reinstatement from costs that may be related to maintenance, turnaround, betterment, upgrade, or other potentially non-indemnifiable items. As well as assessing the overall cost of reinstating physical damage, we have significant experience with identifying and verifying increased costs of working, additional increased costs of working, expediting expenses, prolongation costs, and costs associated with defect rectification and/or improvement.
Where required, we have a number of cost experts with significant experience in providing expert testimony who regularly advise our clients through contentious matters, including those related to professional indemnity and product liability. We document our findings in clear and transparent reports that provide a comprehensive analysis of reinstatement costs in a format that can be readily shared with all stakeholders providing an enhanced claims experience and an expedited resolution for any property damage claim.
Cost expert services
Where required, we have a number of cost experts with significant experience in providing expert testimony who regularly advise our clients through contentious matters, including those related to professional indemnity and product liability. We document our findings in clear and transparent reports that provide a comprehensive analysis of reinstatement costs in a format that can be readily shared with all stakeholders providing an enhanced claims experience and an expedited resolution for any property damage claim.
Our additional Contractors All Risk (CAR) and Erection All Risk (EAR) services
Scope validation
We meticulously review repair scopes to ensure they are comprehensive, clear, and in alignment with the client’s goals and objectives. Additionally, we assess the feasibility and practicality of the proposed repair scope, identifying any potential gaps, ambiguities, or redundancies.
Cost estimation review
Our team evaluates cost estimates for property damage claims to ensure they are accurate, helping clients avoid unexpected construction loss and expense. We also identify any discrepancies between the project scope and the associated cost estimates.
Assessment of prolongation costs
Working with our inhouse delay analysts, our forensic quantity surveying experts identify prolongation costs incurred as a result of insured events and will separate these costs from those that would have been incurred in any event.
Review of defect exclusions and excluded costs
Our expert quantity surveyors are experienced in delineating costs in relation to Defect Exclusion clauses including the London Engineering Group (LEG) clauses; LEG1/96, LEG2/96 and LEG3/06. Our experts help clearly outline costs relating to repairing consequential damage from those related to rectifying and/or improving defects.
Review of increased and additional costs of working
Our forensic quantity surveyors can assist in identifying and allocating costs which have been incurred due to mitigation and acceleration efforts through Increased Cost of Working (ICOW) or Expediting Expense clauses, or those incurred due to an increase in the cost of completing contract scope that was incomplete or unbuilt at the time of insured events occurring.
Contact us
Contact us to discuss how our Reinstatement Cost Verification service can help you with your property damage claim. We’ll bring clarity and clear allocation of repair costs incurred following insurable events.