Rebuilding Insurance - Building Insurance from Macbeths

What’s your Rebuild Cost?

When you insure your home, arguably the most important part is buildings cover. This protects against any damage to the structure of the building that could arise from storms, floods, fires, burst pipes and many other unforeseen damages. To cover any severe damages, a buildings quotation will require a rebuild value – what it would cost to completely rebuild your house, including materials, removal of debris, architect fees, labour etc? But how do you go about working this out accurately?

If you’ve recently purchased your property, these details should be disclosed in your building survey. If you haven’t carried out a survey, or have lived in the home for many years, there are several ways to accurately calculate rebuild costs depending on the size, style, age and location of your property.

Using a surveyor

To get the most accurate assessment of your rebuild cost, use a chartered surveyor, who will carry out detailed measurements and produce a professional assessment. But bear in mind, this process will cost £500 plus.

Desk top valuation

Macbeths can request a desktop valuation via a specialist surveyor. In fact, we can also arrange a site visit but this is something we would need to discuss.

Using a rebuild calculator

The Association of British Insurers (ABI) offers a quick, easy and free way to access your rebuild cost – its rebuild cost calculator. Once you’re registered online, you will need to measure the dimensions of all floors in the property. You then simply enter this information into the calculator, answer a number of key questions, and then you will receive an approximate rebuild cost.   The ABI calculator bases its results on specific examples of five different house types of average quality, built using standard construction methods. Click here.

Please contact Carl Sharp on 0118 916 5487 should you require any advice.

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*Information correct as of 1st May 2016

Author: Carl Sharp | January 6th, 2015

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Carl Sharp
Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767