A building insurance valuation assesses the cost of replacing the insured improvements. It helps property owners choose an appropriate sum insured and understand the risk of underinsurance. It is different from the amount a property might sell for.
C2C provides insurance replacement-cost valuations across Gauteng for residential, commercial and industrial buildings. We assess the improvements and relevant rebuilding allowances for the agreed scope. C2C is led by Brian Morgan, SACPVP-registered Professional Valuer (3702), and has operated since 2002.
Request a building insurance valuation with the property address, building type and any available plans or insurance schedule.
Replacement cost versus market value
Market value reflects what the property could achieve in the market, including the land and its location. Insurance replacement cost concerns reinstating the insured buildings and improvements. A sale price or municipal valuation is therefore not a reliable substitute for a rebuilding assessment.
The assessment considers the size and specification of the improvements, together with relevant allowances such as demolition and site clearance, professional fees and municipal charges. The report should be read with your policy so the scope and insurance basis are aligned.
How the average clause can affect a claim
Where a policy applies an average clause, underinsurance can reduce a partial-loss claim in proportion to the shortfall. The illustrative calculation is:
Sum insured ÷ full replacement cost × covered loss = proportional claim amount.
For example, if the replacement cost is R1,000,000 but the sum insured is R750,000, the property is insured for 75% of that cost. A covered repair claim of R200,000 could then be reduced to R150,000 before any excess or other policy adjustments.
This is an illustration, not a promise of settlement. The policy wording, limits, excesses and circumstances of the loss determine the insurer’s response. Ask your broker or insurer how average applies to your cover.
What happens during the valuation?
- We confirm the property, purpose and scope of the instruction.
- We inspect the improvements and review plans or measurements where available.
- We assess appropriate replacement costs and relevant rebuilding allowances.
- We provide the report for you to discuss with your insurer or broker.
Tell us about unusual finishes, heritage features, alterations and additional structures. Specialist materials or like-for-like replication may require specific policy provisions; do not assume these features are included or excluded without checking the wording.
Information to send with your enquiry
Please provide the address, property type, approximate size, available building plans and current insurance schedule. We will confirm inspection access, the fee and expected completion date. Fees depend on the property’s size, complexity, location and the information available.
Insurance valuations for sectional title schemes
Trustees and managing agents have additional scheme-specific requirements. Our sectional title insurance valuation and ten-year maintenance plan service explains the difference between a replacement-cost assessment and a maintenance, repair and replacement plan.
If you need the property’s market value for a transaction instead, see our commercial or industrial property valuation services.
Discuss your valuation with C2C
Brian Morgan is a Professional Valuer registered with the SACPVP (3702) and a full member of the South African Institute of Valuers (MOR008). Contact C2C for a written quote, call 010 500 4852 or email c2c@c2csa.co.za.