Page 271 - Fire Insurance Ebook IC 57
P. 271
The Insurance Times
surveyor in respect of following types of
property.
Ans. Loss assessment by a surveyor in respect of the
following types of properties:
a. Building - If the destroyed building was new, the original
records of the cost of construction can give the cost of
reconstruction.
If such records are not available, the estimate can be
obtained from plans and specifications, obtained from
the architect or builder.
The surveyor then has to re-estimate and verify the cost
based on the measurements of the area of the building,
the height of the building, the materials used in the
structure, etc.
The cost of reconstruction is then worked out on the
basis of prevailing material and labour costs at the date
and place of fire. This approach holds good for simple
structures.
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