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Finding rebuild cost?
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Just go with approx £120 per sq foot and you won't be far out. If it's a luxury house then go to £150.0
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Direct line insurance do a standard buildings insurance of £1,000,000 so unless you are one of the 'super rich' or it's in the Sandbanks this amount should cover you! They do not appear on 'comparitive' sites.
My insurance is approximately £14 per month which includes £50,000 contents cover.If you want to go fast, go alone
If you want to go far, go with friends0 -
I have sent a letter to the FSA & the FOS regarding this disparity regarding re-build costs and sale value of the property. ie re-build calculator £198k to sell at best £210k, the land has no value to the insurer unless the land subsides and that's coverd in reba difrent part of the contract? So we will see
Alan
The FOS and FSA will not be able to assist you with your letter as the rebuild cost and market value have nothing to do with their remit.
If you have an issue with the amount of the rebuild cost in relation to the actual market value then the only people you can write to our the government for the handling of the economy which has impacted house values0 -
If you have an issue with the amount of the rebuild cost in relation to the actual market value then the only people you can write to our the government for the handling of the economy which has impacted house values
The only person responsible for the amount you paid for the property is you. You agreed to pay it. So that is the market value.
rebuild cost is sometimes higher, sometimes lower, than market value.
rebuild cost is on the lenders valuation - the lender will stipulate how much you need to insure for.
Alternatively you could pay a surveyor to give you a rebuild cost.
Or use the AIC calculator for a guide cost.0
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