I remember a discussion about house insurance valuations and the terms and conditions for trackers so I searched and came up with this thread
http://www.askaboutmoney.com/showthread.php?t=135875&page=5&highlight=house+insurance
The general consensus was to keep reinsuring to the orignal rebuid cost as quoted on the valuation report when the mortgage was arrranged.
This rebuid cost will have dropped dramatically in my case - my valuation report was submitted in 2007.
I'd rather not over-insure as its of no benefit insurance-wise and I don't want to be paying over the odds for insurance.
But I also want to ensure that I don't jeopardise my tracker.
So is it still better to stick with the 2007 rebuid cost or use the up-to-date 2011 rebuid cost?
http://www.askaboutmoney.com/showthread.php?t=135875&page=5&highlight=house+insurance
The general consensus was to keep reinsuring to the orignal rebuid cost as quoted on the valuation report when the mortgage was arrranged.
This rebuid cost will have dropped dramatically in my case - my valuation report was submitted in 2007.
I'd rather not over-insure as its of no benefit insurance-wise and I don't want to be paying over the odds for insurance.
But I also want to ensure that I don't jeopardise my tracker.
So is it still better to stick with the 2007 rebuid cost or use the up-to-date 2011 rebuid cost?