Functional reinstatement value

The functional reinstatement value is understood to mean:

"the amount required for the construction, immediately after the occurrence, of a building on the same location". 

This includes the architect's and consultant's fees, cost of drawing and of supervising during the construction, municipal fees, etc.

Value Terms

Insurance valuations glossary

New-for-old value

Insurance valuations glossary

Reinstatement value

Insurance valuations glossary

Replacement value