Home Insurance - Reinstatement value

wildballoonlady

After writing to Scottish Widows requesting the reinstatement (rebuild) value of our house they instead sent an External Valuation Report (drive by). We have been with them about a year now and from this forum was lead to believe they should hold this information. After a lengthy telephone conversation they have now said they do not have such information and I would have to get someone in independently for such a quote.

I just wanted a realistic figure with which to shop around on home insurance comparison sites. How do I work out a likely reinstatement figure without paying for a survey? Thanks a lot.

Quentin

The RICS has a calculator here:

http://www.rics.org/Services/Usefulguides/Housebuildingcostcalculator/spotlight.htm

Rather than worry about calculating the exact cost, many main stream insurers now do blanket cover with the cover limit set high (£1 million isn't unusual to find). Their premiums aren't affected by the reinstatement cost up to the maximum cover provided.

wildballoonlady

Thanks Quentin - that's reassuring to know re the blanket cover. I'll look at the link too. Cheers!