Make sure you have the right rebuilding costs on your house insurance policy
Despite the depressed property market, the rebuilding cost of a house has increased by 1.5% which will have an effect on House Insurance premiums, attributed to more rigorous enforcement of building regulations. A guide published by the Society of Chartered Surveyors Ireland shows a variation of rebuild costs around the country.
For example, the cost of rebuilding a 3-bed semi-detached property in Dublinhas risen by 0.52% whilst the cost for building the same type of property inWaterford has gone up by 2%. In light of these rises, the overall cost of rebuilding has decreased by almost a quarter since 2008.
For those who are unsure of what buildings cover is sufficient for their house, the SCSI has a quick calculator available here on their website for you to check rebuild costs. Or you can make it even easier for yourself by calling one of our House Insurance advisors today on 1850 746 759 who can tell you the right building cover for your needs.