Talbot Jones: The leading charity and third sector insurance broker in Newcastle, Gateshead and the North East for over 10 years.
Make sure your building is insured for the right amount.
Understand the true cost of rebuilding – so your insurance reflects reality.
Rebuild cost assessments are vital: underestimating rebuilding costs can leave owners and insurers exposed—insufficient cover may cause large out-of-pocket expenses, delayed reinstatement and claims disputes. A professional assessment gives an accurate, current valuation reflecting materials, labour, regulations and site factors, ensuring appropriate cover and peace of mind.
The Risk of Getting It Wrong
Only 6% of properties are insured for the correct amount. Being over‑insured or under‑insured can both be costly: excess cover wastes your premiums, while insufficient protection leaves you exposed to significant financial loss when you need it most.
Under-insured
If you own one of the 80% of buildings that under-insured, you face a reduced payout in the event of a claim. Insurance claims can be reduced by hundreds of thousands of pounds due to under-insurance.
On average, underinsured buildings are covered for just 68% of the amount they should be.
Over-insured
14% of buildings are over-insured. If you are over-insured, it’s simple - you are likely paying more than necessary for your building insurance.
Overinsured buildings are, on average, covered for 126% of the correct amount
Why Most Assessments Don’t Happen
Why rebuild costs are often left unchecked
Getting someone to visit your property to carry out a professional assessment can be time-consuming and very expensive. As a result, many organisations delay reviewing their rebuild costs or rely on estimates that are no longer accurate.
The Smarter Alternative
A professional assessment – without the usual cost or disruption
Thanks to our partnership with RebuildCostASSESSMENT.com, we can offer a reliable, affordable service provided by a ‘Regulated by RICS’ (Royal Institution of Chartered Surveyors) organisation.
How the Assessment Works
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1
A desk-based building survey is carried out using verified and up-to-date property data.
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The assessment is completed by a RICS-regulated organisation, ensuring professional standards are met.
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3
You receive a comprehensive Rebuild Cost Assessment (RCA) report
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4
The report confirms how much your buildings should be insured for
Who This Is For
Commercial property owners
We don't just understand insurance - we understand the Third Sector. Our team regularly works with charity lawyers, accountants, and governance specialists to ensure our advice aligns with best practice across the sector.
Property managers
Property managers often carry responsibility for arranging or overseeing insurance on behalf of owners or occupiers. A professional rebuild cost assessment provides clarity, supports good risk management, and helps demonstrate that insurance arrangements have been reviewed properly and responsibly.
Businesses responsible for insuring buildings
PropertyFor businesses that insure their own premises, rebuild cost assessments help ensure policy sums insured reflect the true cost of rebuilding, not estimates or historic figures. This supports continuity planning and reduces the risk of unexpected shortfalls when making a claim.
Organisations reviewing insurance renewals
When approaching insurance renewal, rebuild cost assessments offer an opportunity to confirm that sums insured remain appropriate. Reviewing rebuild costs at renewal helps avoid carrying forward inaccurate figures year after year and supports informed discussions with insurers and brokers.
“When we faced a complex trustee liability claim, Talbot Jones didn't just handle the insurance side - they understood the governance implications and worked with our charity lawyers to achieve the best outcome. Their sector knowledge proved invaluable.”
Chair of Trustees, National Health Charity
