Insurance Calculator
Our insurance calculator is a useful tool for anyone who needs a guide / estimate for their insurance premium.
Whether you’re an industry professional searching for an estimate or a resident trying to understand if your being overcharged, the Ringley insurance calculator is a valuable instrument for you.
This tool develops an estimate and should be used as a guide or structure for insurance premiums and doesn’t constitute a definitive pricing.
Step 1: How big is your building
| Assumptions | No. flat this type | ||
| Studio Flats | 35 sqm | sqm | |
| 1 Bed Flats | 55 sqm | sqm | |
| 2 Bed Flats | 72 sqm | sqm | |
| 3 Bed Flats | 85 sqm | sqm | |
| Total built area (net) | sqm | ||
| Assumed circulation space @ 20% | sqm | ||
| Total built area (gross) | sqm |
Step 2: Enter build & location information
| sqm | Sum of areas all flats = net building area (sqm) | |||
| sqft | sqft | Sum of areas all flats = net building area (sqft) | ||
| sqft | 20% Gross Sqft including Communal Areas | |||
| Circa 10m or less | 3 stories & under | £140/sqft | multiply by build cost | |
| Under 18m | 6 stories or less | £180/sqft | ||
| Over 21m | Piling & high construction costs | £210/sqft | ||
| Likely to have lift | 4-6 stories | £160/sqft | ||
| Town/lightGreenfield | 0% | |||
| Greater London | 5% | |||
| Central London | 10% | |||
| High end spec (add 15%) | 15% |
Step 3: Derive Estimated Sum insured
| Estimated sum insured | £ | |||
| No. Units (Flats + Comm) | ||||
| Average cost/unit | £ | |||
| Insurance cost rate per £100 sum insured | Range: developers say 8p on contractors all risk build insurance, Freehold Investor with commission say 25p-30p. |
Step 4: Extras
Please add any extras and a fiscal value to consider, this could be for a restaurant as part of the block, known structural issues, previous large claims etc.
Add the amount of extras FIRST as adding another will CLEAR THE DATA already entered.
Step 5: Calculated likely Premium
| Crime Area | 5% | |||
| Flood Area | 20% | |||
| Cladding Issues | 40% |
Estimated Buildings Reinstatement Cost:
£
Possible Premium:
£
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Our Survey Team
The key to our success is our people
Chris Georgallis
London Office
Head of Commercial Valuation
Why not join Ringley's block management customers who experience this level of transparency across what we do. Customers also then can join our block policy which more often than not means cheaper insurance for their block.
Block Management Team
The key to our success is our people
Alternatively, if you think your premium is too high, then our Valuation Team can assist by preparing a reinstatement cost valuation - which the RICS 3rd Edition Code of Practice recommends is carried out every 3 years.
Our Asset Management Team
The key to our success is our people
Leana
London Office
Strategic lead: ESG & Asset Business Plan delivery
