If divorcees cannot agree on how to divide their assets fairly, an impartial matrimonial valuation is needed. To determine how your assets should be distributed according to the law, a judge will need to have a Valuation from an RICS registered valuer.

To determine the market value of your property, you will need to obtain a valuation report. A report may also indicate a reinstatement figure and highlight certain issues that need further investigation, such as legal issues. It is important to understand that a valuation is not a survey.

If your home was destroyed beyond repair, the rebuild cost is the amount it would cost to rebuild it completely. This includes the cost of labour and building materials. The cost is usually lower than the sale price or market value of your home. Having your policy based on the rebuilding cost of your home will prevent you from over-insuring and paying higher premiums than necessary.

• If you have recently purchased your home, the rebuild cost will be included as part of your mortgage valuation or deed.

• There should be a cost included in your rebuild estimate that includes any professional fees associated with the rebuilding process as well as the cost of clearing the site.