In the context of numerical simulations of multiphysics flows, accurate tracking of an interface and consistent computation of its geometric properties are crucial. In this paper, we investigate a level set technique that satisfies these requirements, even for long times computations. The method is developed in a finite differences framework on cartesian grids. As in usual level set strategies, reinitialization steps are involved. Several reinitialization algorithms are reviewed and mixed to design an accurate and fast reinitialization procedure. When coupled with a time evolution of the interface, the reinitialization procedure is performed only when there are too large deformations of the isocontours. This strategy limits the number of reinitialization steps and shows a good balance between accuracy and computational cost. Numerical results compare well with usual level set strategies and confirm the necessity of the reinitialization procedure, together with a limited number of reinitialization steps.