Do insurers think that houses cost more to rebuild now they are worth
> more? If so should I increase my buildings insurance value to cover > this?
Nope. They might though cost more to rebuild because the rise in the prices has seen an increase in the number of new builds started which has (helped) result in a shortage of tradesmen and thus an increase in labour costs.
Tim
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> mark
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> All direct mail to this account is deleted unseen.
> To send me mail; ask on the NG.
Try comparing the ABI/BCIS House Rebuilding cost index
Allan in Settle
Much depends on the the value of the house compared to the value of the land. In an area where house prices are high because of location (sought after leafy suburbs etc.) much of the house value will be in its location, ie the land it stands on. You may find rebuild costs (remember this has to include removal of debris and clearance etc. after a fire or whatever) could be less than the market value.
A house in a poorer location will have a market value where bricks and mortar are a large proportion of the value, hence rebuild cost might be more than value.
In message , Stephen Burke writes
Detached houses cause no collateral damage. Actually IME experience the cost of the work undertaken is similar, its just represents a greater proportion of the total value of the land & buildings.
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