Property Valuation for Insurance Australia
Independent, RICS-compliant insurance valuations that establish accurate replacement costs. Ensure your property is adequately covered with a professionally prepared reinstatement valuation.
About This Purpose
What Is Property Valuation for Insurance?
An insurance valuation establishes the replacement cost or reinstatement value of a property for insurance purposes. Unlike a market valuation, which determines what a property would sell for, an insurance valuation calculates the cost to rebuild or reinstate the property to its current condition and standard in the event of total loss.
This type of valuation is essential for ensuring adequate insurance cover. Underinsurance is one of the most common and costly mistakes property owners make, and it can result in significant financial shortfalls when a claim is made. For commercial properties, high-value homes, heritage buildings, and properties with specialist features, a professional insurance valuation is particularly important.
At Landmark Valuations, our insurance valuations are prepared in accordance with RICS Red Book Global Standards 2025. Our valuers assess the full cost of rebuilding, including demolition and debris removal, construction costs based on current rates, professional fees for architects and engineers, compliance with current building regulations, and any specialist features or materials. The result is a comprehensive report that gives you and your insurer confidence that the property is covered at the correct level.
Our Promise
Why Landmark Valuations.
RICS Compliance
Every valuation follows RICS Red Book Global Standards 2025 and IVS. Reports accepted by banks, courts, the ATO, and regulatory bodies across Australia.
Legal Defensibility
Prepared to withstand legal scrutiny. Court proceedings, tax disputes, regulatory submissions — our reports provide authoritative evidence of market value.
National Coverage
Valuers across all eight Australian states and territories. Consistent quality, single point of contact, wherever your property sits.
Next Steps
What happens after the valuation?
After the valuation is completed, you provide the RICS-compliant report to your insurer to set or update your property's sum insured. The report establishes the replacement or reinstatement value, which is the figure your insurance policy should cover.
An accurate insurance valuation ensures you are neither underinsured, which could leave you significantly out of pocket after a claim, nor overinsured, which means you are paying more in premiums than necessary. The valuation gives your insurer clear, professionally determined figures to work with.
For commercial property owners and landlords with multiple properties, we can provide portfolio insurance valuations with a single comprehensive report. We recommend updating your insurance valuation every 3 to 5 years, or after any major alterations, to ensure your cover remains current with building cost movements.
Compliance
RICS Red Book Compliant.
Every valuation we produce adheres to the Royal Institution of Chartered Surveyors (RICS) Red Book Global Standards 2025 and the International Valuation Standards (IVS). Your report is recognised by banks, courts, the Australian Taxation Office, and regulatory bodies worldwide. RICS regulation brings rigorous quality assurance, professional indemnity insurance, and a complaints handling process that protects your interests at every stage.
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FAQ
Frequently Asked Questions
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Coverage
Every state, every territory.
RICS-regulated valuations from Sydney to Hobart, Darwin to Perth, and every postcode in between.