building insurance calculator: Insuring Your Home

2008-03-13 09:58:47

( Insurance )



There are many reasons to consider building insurance uk. We tend to think that the worst happens only to other people – that bad will never happen to us. But statistics show this is a risk we shouldn’t take. This is especially the case with building insurance uk. One in 3 people in uk will be burgled. But the reality? Only about a quarter of your goods are protected by any form of insurance. But a lot of people risk even more serious financial loss by not having building insurance uk. Anything could happen – fire, storm/flood damage…

Home insurance is now available for everyone – tenants, landlords, homeowners. In fact mortgage lenders will often insist on building insurance uk before you can get a mortgage.

They will need various pieces of information to submit to their building insurance calculator
• Building materials
• Construction date…
Sometimes they might not insure thatched cottages or prefabricated buildings.

They also need to assess the lie of the land and flood risk.

Chart for Contents Value
Be careful to value the contents of your property. Don’t underinsure or you won’t get your money back when you claim. But on the other hand, if you over-insure you will pay higher premiums. Be careful to use a building insurance calculator which realistically reflects the value of your contents and real estate.

Rebuilding cost information
This is an important aspect of the building insurance calculator.

This is often a highly debated area between the consumer and the insurer. Remember it’s the insurer’s responsibility to make sure that this figure is correct.

Remember – insure the rebuilding cost and not the market value. The land is about a third of the value of the property – but this is not under storm or fire threat. If you cover the rebuilding costs and not the market value you save on premiums.

It often costs less to rebuild a damaged house if the land it lies on is unscathed.


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