Replacement Insurance

Williams' Harvey can provide Replacement Insurance valuations for all property types including Residential, Lifestyle and Commerical/Industrial properties.

A Registered Valuer can estimate the cost, at the date of valuation, of replacing your asset with a new modern equivalent asset including the use of current equivalent technology, materials and services to the same size and scale of your existing asset. This will allow you to replace your asset in the event of disaster.


The difference between Market Value &
Reinstatement Value


The market value of your property can be very different to the reinstatement value.


Market Value indicates "the most probable price that would be achieved in a hypothetical exchange in a free and open market transaction". As building improvements get older they can depreciate and become obsolete. This may reduce their market value.

Reinstatement Value is distinctly different, as this refers to the cost to replace your asset today, to the same size and scale, taking into account modern equivalent technologies, materials and services.


Cost does not always equal value and if you have an older premises, cost to recreate may well be above the asset’s current market value.


Are you insuring your property in napier, hastings, havelock north or hawkes bay