The amount your buildings are insured for needs to be enough to cover the cost of rebuilding your home from scratch. This is not the same as the “market value” of your house, as this includes the cost of the land your house is built on.
We don’t expect you to have expert knowledge of building costs, so we use the Building Cost Information Service (BCIS) of the Royal Institution of Chartered Surveyors (RICS) to suggest a rebuild amount for you. You can also ask local builders or appoint a surveyor to come to your property to carry out an assessment if you wish.
If you’ve extended your house since you last bought insurance, don’t forget to get an up to date assessment of the rebuild cost, as it will probably have increased.
Most of our policies offer a 'blanket sum insured' for your buildings. This means that rather than us needing to know an exact figure, we'll cover your up to a certain amount. However, it is still important to ensure this blanket amount is enough for your insurance needs.
If you have any further questions, feel free to click on, to start a Live Chat - a member of our team will be happy to assist you further!