The cost of a re-build?

john432

Buildings and contents is up for re-newel.
Currently have un-limited buildings. If I fix the limit, how do I know how much a re-build would cost, if the worst was to happen. Also the house is mid-terrance. Current value of house to sell would be around £150,000.

Your thoughts please.

huckster

Use this link. http://abi.bcis.co.uk/calculator/calculator.aspx

Hope you have measuring tape handy !

*Scarlett

Many companies offer a blanket cover on buildings - £500k to £1m.

Bear in mind that if your resale value is £150k, the rebuild is normally less than this - ie you already own the land that the house is built on.

Take into account other costs - alternative accomodation, ground clearance, architects fees etc and make sure that the policy will cover you.

If you do a few quotes through the comparison sites they will normally quote the minimum that you have asked for.

You can compare policies here

http://www.defaqto.com/guides/insurance/home-buildings-insurance-guide/

or

http://www.which.co.uk/money/insurance/reviews-ns/home-insurance/

mic200202

john432 wrote: »

Buildings and contents is up for re-newel.
Currently have un-limited buildings. If I fix the limit, how do I know how much a re-build would cost, if the worst was to happen. Also the house is mid-terrance. Current value of house to sell would be around £150,000.

Your thoughts please.

I would stick to blanket cover.I have posted a story about a client of mine who was nearly sunk by taking out a fixed building cost policy elsewhere on this forum.Unfortunately, there are many armchair experts who would say pick your own sum insured and then rely on the ombudsman to pick up the pieces should it all go wrong.

dacouch

mic200202 wrote: »

I would stick to blanket cover.I have posted a story about a client of mine who was nearly sunk by taking out a fixed building cost policy elsewhere on this forum.Unfortunately, there are many armchair experts who would say pick your own sum insured and then rely on the ombudsman to pick up the pieces should it all go wrong.

Sorry to take this thread off subject but this needs addressing.

You opened up an authoritative about Home Insurance, it contained a flaw which was pointed out to you.

At no point during the thread did I or the other posters state you can pick your own sum insured and then rely on the ombudsman.

The case you stated was taking cover out with their mortgage provider whose professional surveyor recommended a sum insured that the client was going to rely on. I pointed out that in these unusual circumstances eg the surveyor had under estimated that the Insurer would have to honour the full reinstatement value.

At least three "Armchair" experts pointed out that your post was flawed.

Anyone with a decent knowledge of Insurance and also how the Ombudsman adjudicates would know this.

I don't like to blow my own trumpet on MSE but I don't like being called an "armchair expert" by someone who I have demonstrated is incorrect. For your information this "armchair expert" has been dealing with Home Insurance a fair amount longer than you and clearly understands it better than you do.

https://forums.moneysavingexpert.com/discussion/4005569

mic200202

see what I mean? The choice is down to the consumer take out a blanket type policy or rely on above posters expert knowledge to bail you out.What do you think? How do you think he knows how long I have been in business for.I bet my dads bigger than his dad!!!

dacouch

mic200202 wrote: »

see what I mean? The choice is down to the consumer take out a blanket type policy or rely on above posters expert knowledge to bail you out.What do you think? How do you think he knows how long I have been in business for.I bet my dads bigger than his dad!!!

You've been selling home Insurance for 18 or maybe 19 years. Once again your attention to detail lets you down as you state it in your thread.

At least you did not quote someone's else's answer and argue against it saying it was me again and again

In none of my posts did I recommend a customer takes a sum insured building policy over a blanket type policy, I (As did a number of other posters) pointed out a mistake in the "authoritative" thread you started