Demolition Cost?

Demolition Cost are seldom factored into the real construction cost of rebuilding your business building. Few appraisers know how to estimate the cost of cleaning up your building after a disaster so you can rebuild and continue your business. Consequentially the demolition cost will be subtracted from your building insurance fund. Now if you were underinsured because of 9/11, you are even more at a loss because your insurance never included money to clean up the mess before you can start to rebuild.

Since 9/11 building materials have gone up 5 times. Should a disaster claim your business building you will need more funds than the insurance policy will pay. We are beginning to understand that if our business records are on a computer that we need to back up the hard drive OFTEN as hard drives crash. You should give your business build another inspection by a qualified appraiser that specializes in real construction cost that will include demolition cost. This appraisal is much different than a real “estate comp” or a “square footage” estimate to rebuild. Your real construction cost appraiser will give you a turn-key amount that you can have the building and equipment inside replaced and rebuilt without the aid of non-insurance funds.

If you need to know more about demolition cost or why “replacement cost” will not rebuild your building, call the expert. Paul Fussell Valuations, Senior Professional Appraiser, 29 years Commercial General Contractor, Graduate Architectural Drawing and engineering, 2008-2009 USPAP compliant. Phone: 480 326 3907

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