Building valuations for insurance: homes & commercial
Many buildings are insured for their market value or an old figure that hasn't kept up with building costs. If the sum insured is too low, a claim can be reduced through under-insurance (average), sometimes by a large amount.
Sterling Assessing provides replacement-value building valuations for homes and commercial properties, so the sum insured reflects what it would actually cost to rebuild.
What's included
Our building valuations cover
Our assessors work from Pretoria and travel to sites in all nine provinces of South Africa.
- Residential homes
- Commercial and industrial buildings
- Replacement cost of the structure
- Outbuildings, boundary walls and paving
- Demolition and debris removal
- Professional fees
- Escalation during the rebuild period
- Valuation report for your insurer or broker
Our approach
How a building valuation works
- 01
Site inspection
We inspect and measure the buildings and note construction type, finishes, outbuildings and site works.
- 02
Replacement-cost calculation
We calculate the cost to rebuild at current rates, including demolition, professional fees and escalation, rather than market value.
- 03
Valuation report
You receive a clear report you can share with your insurer or broker to set the correct sum insured.
FAQ
Building Valuations: common questions
Why is replacement value different from market value?
Market value includes the land and is driven by the property market. Replacement value is the cost to rebuild the structure, which is what a buildings policy needs to cover.
How often should a building be revalued?
Building costs change every year, so it's sensible to review the sum insured annually and get a full valuation after major alterations or every few years.
Can I request a valuation without a claim?
Yes. Homeowners, businesses, brokers and insurers can all request a building valuation directly.
Request a valuation today
Email [email protected], call 012 880 4733, or send us a WhatsApp. We cover all of South Africa from our Pretoria office.
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