Lloyds building insurance query

mark_cycling00

I have just obtained a buildings insurance quote on their website and it only asked for my address and not lots of details about the number if rooms, construction etc etc.

The T&C's seem to state that the full house rebuild value is covered plus outbuildings, garden walls etc.

But I suspect that my rebuild value is over £1million due to old materials.

Will I definitely be covered? I can't see a max value stated but I'm sure I once read a post on here about Lloyds not covering the full rebuild value

Thanks

huckster

Some Insurances offer blanket coverage, with the Buildings cover being unlimited.

But you have to read all information very carefully. Particularly the assumptions used for the quote.

If your house is built of stone rather than brick then yes rebuild cost would be significantly more.

What would happen if there was a total loss and they could not rebuild house on same land? I have come across a few cases like this and Insurers helped with purchase of a house elsewhere. But this was only possible because the Buildings cover was sufficient to enable this.

If in doubt contact Lloyd's and ask before buying.

MyRealNameToo

https://forums.moneysavingexpert.com/discussion/6682145/lloyds-building-insurance-query

Insurers tend to write Home insurance on a sums insured basis, where they ask you the rebuild value, or "bedroom" rated where they question about the number of rooms instead and use that to proxy the value for rating purposes.

In principle, with the ever increasing data, they could do a bedroom rated policy and rather than asking you questions base it on assumptions from your postcode/address. This appears to be what Lloyds Bank are doing. So as long as you answered the questions about construction and if its a listed building correctly you should be ok even if its over a £1m rebuild value.

Im assuming you meant Lloyds Bank, Lloyds in insurance terms is something very different, if you did mean Lloyds rather than Lloyds Bank then you would need to say which syndicate it is or which MGA (which would be more likely for anything below UHNW)