Home Rebuild value high -> INS near doubled !!

[dubinamerica]

Hi
My house insurance is up for renewal this month and I got a quote from my current insurance company. The quote nearly doubled from last year and is well over 1,000 euro!
One of the areas that may bring this down is the rebuild/re-instatement amount.

My mortgage provided KBC had previously indicated that the rebuild needed to be at least 350K . I contacted them today and the rebuild value has come down to 322K.

The house was bought for aroudn 300K a few years back so this still seems excessive. Has anyone successfully disputed the rebuild value? What if I don't insure it for the amount that they request? What are the possible consequences?
Any help would be appreciated. I am separated from my husband and he has paid nothing for months and this bill is causing me untold stress : (

 

[Jimbobp]

If you log on to the chartered surveyors website (www.scs.ie) you will be able to work out the correct rebulding cost. If the lender questions this, I would refer them to the scs site and ask them why they want you to over insure. €1000 seems expensive for cover, do you have a lot of additional covers (all risk or mobile home cover etc.) you should shop around for alternative quotations.


www.powerinsurances.ie