What your cousin can build for will be of no interest to an insurer in the event of a claim. They will send an assessor out who will make their own assessment on the rebuild costs (likely in line with the SCSI figures). If their assessment arrives at more than your figure, they will reduce any payout by a corresponding percentage.Thanks for the feedback. The house is 300m2 and I've been given a rebuild cost of €1.1m. To me this seems excessive. I know what my cousin spent building a 250m2 house and it was nowhere near this...less than half.
Except in this case it would appear the EA's advice was sound.Thevalue you insure for is entirely your choice, based on good advice if you are sensible. What has some EAs opinion got to do with anything. Might as well ask your dentist.
I assumed that the bank asks for this cost in the valuation form to ensure that I insure the house for at least that value. Is this not the case?Thevalue you insure for is entirely your choice, based on good advice if you are sensible. What has some EAs opinion got to do with anything. Might as well ask your dentist.
when did they build the house?Thanks for the feedback. The house is 300m2 and I've been given a rebuild cost of €1.1m. To me this seems excessive. I know what my cousin spent building a 250m2 house and it was nowhere near this...less than half.
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