Most probably we all just receive a renewal notice when the time comes and do nothing other than accept it as it stands, pop the letter in the file and then await the new policy.
But how do they place the value on the policy. My house has a value of approx 350K and the policy has building cover of 115K. I am not sure that this value would provide enough to rebuild a house when just recently I had a quote of close on 6K to renew my soffits/gutters and 4K to change the boiler. 115K does not strike me as much for a total rebuild.
It must be the majority that just accept their valuation.
Any thoughts other than get someone in to value it.