Getting your rebuilding costs for your House Insurance is vital.

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When it comes to House Insurance, rebuilding costs are vitally important to have estimated accurately to ensure you get the optimal benefit from you policy should a claim ever be made. On one hand, if you insure your property for far more than it is worth, the most you will get in the event of a claim is the amount needed to rebuild it, and not the amount it was insured for. This means you would be unnecessarily paying more on premiums for no extra benefit.

The other to scenario – and potentially costlier – to consider is being under insured i.e. insuring a property for an amount less than its reconstructing cost. Like in the above case of the over insured home, you would only receive the sum insured. However, the short fall left over to fully fund the rebuilding would have to be assumed by the claimant. Granted, your premiums are lower with a lower buildings sum insured but it is ultimately a false economy – with people in this situation ending up paying many thousands at the expense of little savings over the long term.

Thankfully, help is at hand for those unsure who want an accurate calculation on the rebuild cost so they are not at risk of being under insured but, at the same time, not spending over the odds on their annual premiums. Our insurance team have access to an in-house auctioneer whose expertise in valuing a diverse range of properties ensures estimations of the sum needed for the right level of cover. It’s simple to find out what your house insurance rebuilding costs are: call us on 1850 746 759 or send us an e-mail to ask us for advice.