leukoshoopr
Registered User
- Messages
- 57
Depending on where your house is - the average rebuild cost varies - Dublin was traditionally dearer than the West.
A rough guide in todays market would be 100 Euro's per square foot or 1100 per m2.
Alot of people were 'duped' into believing that if theypaid 400,000 for it then they should insure it for that !, without realising that the purchase cost includes other 'big' items like Site Cost, and closeness to servises - all of which your insurance co will have little regard for if your claiming.
I recently rang the AA for a quote and like you they couldn't quote for less than 250,000 so it seems they like to keep that as a minimum amount.
Anyway Allianz were much cheaper for increasd contents cover.
Hi Claimsman,
100 Euro's per Sq ft is not 'too low' in todays market.
The SCS advice is actually based on March 2009 estimates which actually relate to end 2008 figures which as we all know now - IS HISTORY !!
A good tendering will generate much more interest today from alot of idle builders .. and your house insurance should be based on the CURRENT rebuild cost not what the Ins. co would like you to insure it at.
Don't forget alot of policies had automatic Index Linking increases, which now amounts to over insured and a waste of money.
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