All Building insurance policies require you to state the sum to be insured for the full rebuilding cost of your property. This is different from your market value of a property which has no bearing on an Insurance rebuild value.
Our RICS Chartered Surveyors are well versed in producing VAR (Value At Risk) surveys to give a realistic indication of the more realistic sums to be insured.
This can be re-sold as a product by you. It is the responsibility as policyholder to obtain the correct rebuilding cost for your property as you know, but always the Brokers fault in their eyes when it is inadequately insured!
Asking a policyholder to estimate the cost of demolition and rebuilding the property to modern building regulations is usually beyond their understanding. Remember that no two properties are same and the total rebuilding costs for every type of building will be different and will vary depending on individual specification. Calculations can be complex, correct rebuild costs usually equate to more premium as most people under value this aspect.
Fencing & Boundary Walls
Hot & cold water
Doors and windows
Outbuildings & Sheds
If you have been declined while trying to claim on your domestic or commercial insurance, we can help. We can also help with professional services, for example, Brokers, VAR Valuations and Managing Agents.