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House insurance

shane55 · 2007-02-22 23:29:48

Insurance companies tell you to insure your house for the amount it would cost to rebuild after destruction by fire etc, not the market value. How are you suppose to know what the rebuild would cost? Are you better off just to insure it for the market value?

22-02-2007 11:29pm

#1

shane55

Closed Accounts Posts: 23 ✭

Join Date: December 2006

Posts: 17

Insurance companies tell you to insure your house for the amount it would cost to rebuild after destruction by fire etc, not the market value. How are you suppose to know what the rebuild would cost? Are you better off just to insure it for the market value?

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Comments

#2 23-02-2007 3:36pm

dublinli

Closed Accounts Posts: 36 ✭

Join Date: February 2005

Posts: 32

using amrket value of the house rather than rebuilding cost for insurance purposes will cost you a lot more than what you need to pay.
there are guidelines here for rebuilding costs, don't forget these are just guideline figures http://www.scs.ie/publication/pdf/homeownersguide2006.pdf

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#3 23-02-2007 10:22pm

shane55

Closed Accounts Posts: 23 ✭

Join Date: December 2006

Posts: 17

thanks dublinli

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