Strata Building Insurance Valuations
Is your strata building insured for the cost of rebuilding it today?
R24 provides independent Strata Building Insurance Valuations for residential, commercial and mixed-use strata properties across Australia.
Our qualified Quantity Surveyors conduct a physical site inspection to assess the estimated cost of rebuilding your property, including demolition, professional fees and other relevant replacement costs.
We help strata managers, councils of owners and body corporates obtain reliable replacement cost assessments to support their building insurance decisions.
REQUEST A STRATA INSURANCE VALUATION
Why Are Strata Building Insurance Valuations Important?
Strata buildings have unique insurance requirements. Unlike an individual property owner, a strata scheme generally arranges building insurance on behalf of multiple owners, covering shared structures and other insured building elements.
An accurate Strata Building Insurance Valuation helps strata managers, councils of owners and body corporates establish an appropriate replacement cost for insurance purposes.
The risks of an outdated valuation include:
Underinsurance: The insured amount may be insufficient to cover the full cost of rebuilding following a major loss.
Rising construction costs: Increases in labour, materials and professional fees can make older valuations unreliable.
Building alterations: Renovations, extensions and improvements may change the property's replacement cost.
Insurance compliance: Strata schemes must meet applicable state or territory insurance requirements, which can differ across Australia.
A current, independent valuation provides a reliable basis for reviewing the building's sum insured and helps owners make informed insurance decisions.
What's Included in a Strata Building Insurance Valuation?
A strata insurance valuation considers more than the cost of constructing a new building. It assesses the estimated cost of replacing the insured building and associated structures following a major loss.
R24's valuations typically include:
Physical Site Inspection – Our Quantity Surveyors inspect the property to assess its construction, size, configuration and relevant site characteristics.
Building Reconstruction Costs – The estimated cost of rebuilding the structure, common areas, building services and relevant fixtures and finishes.
Demolition and Debris Removal – Allowances for demolishing damaged structures, removing debris and preparing the site for reconstruction.
Professional Fees – Costs associated with architects, engineers, surveyors and other consultants involved in rebuilding.
Construction Cost Escalation – Allowances for potential construction cost increases during the applicable insurance and rebuilding periods.
Site-Specific Considerations – Factors such as restricted access, building complexity, location and other conditions that may affect reconstruction costs.
Our valuations provide an independent assessment of building replacement costs to assist strata managers and owners corporations when reviewing their insurance arrangements.
Why Choose R24?
Independent Building Insurance Valuations from Experienced Quantity Surveyors
Established Since 2008 – R24 has extensive experience providing property assessments and reporting services across Australia.
Qualified Quantity Surveyors – Our valuations are prepared by professionals experienced in construction costs and building replacement assessments.
Physical Site Inspections – Every full valuation includes an inspection of the property. We don't rely solely on generic construction rates or desktop estimates.
Australia-Wide Service – We provide valuations for residential, commercial and mixed-use strata properties across Australia.
Ongoing Valuation Reviews – We can help strata managers keep replacement cost assessments up to date as construction costs and building circumstances change.
Is Your Strata Building Insurance Valuation Up to Date?
Get a Free, Obligation-Free Review of Your Existing Valuation
If your strata building already has a Building Replacement Cost Valuation, R24 can provide a free preliminary desktop review to help determine whether an update may be warranted.
Our Quantity Surveyors will review:
The age of your existing valuation.
Whether key replacement cost allowances have been considered.
Potential omissions or changes that may warrant further assessment.
There's no cost or obligation to proceed with a new valuation.
The free review is a preliminary desktop assessment only. It does not include a site inspection, a new replacement cost valuation or confirmation that your building is adequately insured.
REQUEST YOUR FREE VALUATION REVIEW
Need a New Strata Building Insurance Valuation?
Whether you're managing a residential apartment complex, commercial strata property or mixed-use development, R24 can provide an independent Building Replacement Cost Valuation to support your insurance requirements.
Our qualified Quantity Surveyors conduct physical site inspections and prepare valuations using current construction cost information.
REQUEST A STRATA INSURANCE VALUATION
Australia-wide service | Qualified Quantity Surveyors | Established 2008
Looking for valuations for other commercial properties?
View our Building Replacement Cost Valuations service
.