Rebuild cost? - Where do I go?

cordial

It's always been a mystery to me as to what 'buildings insurance' is calculated on.

In my last remortgage the new lender was insistent on the property being insured for a total re-build in the worst case scenario, failing which they wanted it insured for the full amount of the sum being borrowed.

I can recall it proving almost totally impossible to get anyone to suggest (within the short time frame of the remortgage situation) a rebuild cost for this purpose.

Does anyone know of an answer to this problem? I am fairly certain that I am considerably over-insured as things stand at present.

mrs_baggins

Do you mean when you are getting building insurance?Not sure about mortgages etc but when you get building s insurance for a house there are sites around to help work out your rebuild costs and its not the same as the house value. One of the sits is http://calculator.bcis.co.uk/ and you need to get a very rough outside width and length wether in feet or metres and then its a firly simple calculation. Is that what you mean?

oldwiring

http://abi.bcis.co.uk/ may be one source. The calculator is after all the blurb.

payless

many providers now offer cover that is unlimited or to a set figure (£300K-£400K )that is often way above requirements for many people

cordial

Thanks to all.

Porker

rebuild info and calculator here: http://www.home-cover.com/home-insurance-faqs-insure-my-buildings-for.cfm

HTH!