# How to calculate house and contents value for insurance?



## Toby

We reckon our house value and contents are overestimated on our home insurance policy and its up for renewal. CAn anyone tell me how to calculate the value and contents amount to get covered. We're in Dublin if that makes a difference. Thanks


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## MrMan

Toby said:


> We reckon our house value and contents are overestimated on our home insurance policy and its up for renewal. CAn anyone tell me how to calculate the value and contents amount to get covered. We're in Dublin if that makes a difference. Thanks


 
The location wouldn't matter for the contents, but check the www.scs.ie for the reinstatement costs for your house type and your area. It will be broken down as price per foot/metre and apply it to your house. If there is a sizable difference then look for a surveyor to make it official.


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## Red

Make sure you also allow a cost for any high value kitchen units /wardrobe & hard wood floorss etc into the rebuild value.

Normally contents is nominated as a % of the overall rebuild value.
eg 30% content on a rebuild value of 300,000 gives you content cover of approx 90,000


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## Toby

Hi, thanks, is 30% the recommended percentage to use then or is it up to you based on the kind of items you own?


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## colm5

As a note, you should also include demolition costs and site clearing costs in the event of a fire etc..


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## Bar101

Some of the insurers have calculators on their websites to do the calculation for you based on the SCS guidelines. Dublin and the rest of the country do differ.
Try [broken link removed] 

In general add on cover for sheds, long concrete garden walls, conservatories, garages etc.

However look at your % contents cover closely. 90,000 may well be overkill for a small home. It does have to cover redecoration but ... 
Also some contents cover may extend as high as 50% so look closely at your cover.

Overall it is definitely worth reviewing, especially as the cost of house insurance is expected to be up by 10% this year!


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## niceoneted

I think contents are a very individual think. I went through every room in my house and did an estimate on all my contents based on them being totally destroyed and having to be replaced. It worked out a lot more than the recommended 30%. 
Think of having to replace all your units in the house, kitchen, bedroom, all the contents within them. TV's DVD's, stereo systems, pc's laptops. CD's, all your clothes, beds bed linen, curtains, furniture etc. Depending on the standard of items it could work out to be a lot.


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## Ed054

I would deal with a lot of fire and storm claims and the one thing that always surprises people is the cost of replacing contents.
In my experience people generally underinsure on their contents.
The easiest thing is underestimating the contents.


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