Rebuilding costs for house insurance - any site to calculate this

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SA Ecca

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I am trying to get rebuilding costs figure for my house to re-mortage it and get house insurance. I have done many searches but cannot find any recent figures, the last I got was from Hibernian related to 2003.
any site out there that will help for houses in Wickow and Dublin
 
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SA Ecca said:
I am trying to get rebuilding costs figure for my house to re-mortage it and get house insurance. I have done many searches but cannot find any recent figures, the last I got was from Hibernian related to 2003.
any site out there that will help for houses in Wickow and Dublin
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Re-build costs are currently quoted at about €2,000 per square metre for the purposes of house insurance (or at any rate they were in August, last time I was insurance shopping!); it might be wise to allow a bit more - say €2,500 per square metre - as the lower amount might leave you slightly underinsured in the awful eventuality that something did happen.
 
Wow, thanks for the fast replies !!
this will help get the figure to get the insurnace on the houses and the keys of the house :)
 
Be careful-I used the SCS guide, calculated a value and got a policy to cover this amount +10%.

My calculation was lower than the valuation that was done for the bank, so I had to get the policy re-issued.
 
As well as that bear in mind that the SCS ready reckoner contains various caveats and footnotes about things that might need to be factored in separately. If in doubt get a proper valuation survey done.
 
I was fairly thorough in my calculation and am not having a go at the SCS as such, but it pays to wait for the bank/lender to get their valuation done as this is the only value they will accept AFAIK (unless your valuation is higher the valuer's)
 
The lender's valuation will only give you the year one minimum for insurance purposes (assuming you don't subsequently need a valuation for remortgaging purpose or to get a better LTV rate or whatever). After that you will still have to estimate the rebuilding costs for insurance purposes year after year. And this will require you to do so using resources such as the SCS guide unless you get your house valued each year to ensure that, as far as possible, you are neither overinsuring nor underinsuring. One way or another I susepect that there is always an element of guesswork in this matter. The more educated the guesswork the better!
 
I guess a reasonable estimate would be to take last year's reinstatement/rebuilding cost and increase it by the annual rate of inflation (specific to construction if available).
 
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