Home investment property

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have an investment property. house worth 100k. mortgage outstanding 215k.

what kind of insurance would you take out and for how much? Im guessing the mortgage value at least.

do you take out rebuild and contents as well?

3 bed terraced house in dublin. is there a standard rebuild cost on that? cheers.
 
House insurance for a rental property. You only need to insure for the reinstatement cost.

Have a look at the SCS's website. They give a rebuild guide.
 
There is no link between value of the property, outstanding mortgage or any orther similar item and Insurance.

Insurance value required is simply the cost of rebuilding your property in the event of it been destroyed by an insured risk (of which there are 11 standard items including Fire, Flood etc)

You need to insure the rebuild value refered to in the policy as "Buildings" and the contents value refered to as "Contents". Contents value should be the cost of replacing all of your contents in the event of all been destroyed.

Check out [broken link removed] where you can input property sizes and areas and it will give you the MINIMUM you should insure for.
 
If worried about what would happen if you die, then you might consider life assurance for the outstanding balance. That way, your heirs could at least enjoy the pleasure of not having debts to pay from your estate!
 
kkelliher said:
There is no link between value of the property, outstanding mortgage or any orther similar item and Insurance.

Insurance value required is simply the cost of rebuilding your property in the event of it been destroyed by an insured risk (of which there are 11 standard items including Fire, Flood etc)

You need to insure the rebuild value refered to in the policy as "Buildings" and the contents value refered to as "Contents". Contents value should be the cost of replacing all of your contents in the event of all been destroyed.

Check out [broken link removed] where you can input property sizes and areas and it will give you the MINIMUM you should insure for.
Click to expand...

how do you fill out that? it asks me to put in the sq ft of the house which I do, some costs, and then just returns the sum of the costs I put in? was it meant to do something else?

what does "minimum base cost" mean?
 
Did you hit the calculate button at the bottom?

If you let me know your property size, type, location ill do it for you

Min base cost ia the minimum you should allow based on the average cost. If your house is above average in terms of specification then you should increase the figure
 
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