Are you over insured on the cost of rebuilding your house?

Are you over insured on the cost of rebuilding your house?

Thanks to the drop in house prices, it is now much cheaper to rebuild your home than ever before if anything nasty happens to your house (heaven forbid!).

But you may still be paying a home insurance premium based on old rebuilding costs.

If you visit the Society of Chartered Surveyors,  they provide a handy guide to rebuilding costs for your house (as of Feb 2010).

The Are You Fully Insured? PDF report provides a table of costs and a guide to calculating the rebuilding of a house.

Charlie Weston of the Irish Independent did this exercise last summer before renewing his home insurance and saved €130.

Not bad for a few minutes work!


Picture by Horia Varlan


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