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house insurance values

  • 13-05-2013 9:22pm
    #1
    Deise67
    Closed Accounts Posts: 119 ✭✭


    anyone any idea why all the insurance websites are still stuck in Celtic tiger pricepoints ! lot of the drop down menus only go to 140K , no don't the premium reflects same !


Comments

  • #2
    Atlantic Dawn
    Registered Users, Registered Users 2 Posts: 84,764 ✭✭✭✭Atlantic Dawn
    M


    This is the rebuild cost and contents, there's lots of houses currently on sale for less than the price to build them. Home insurance will typically be priced to pay out the rebuild cost from scratch not to buy a similar house elsewhere.


  • #3
    kkelliher
    Registered Users, Registered Users 2 Posts: 1,583 ✭✭✭kkelliher


    Rebuild value on an insurance policy relates to a worst case scenario which in the main would be fire damage. If a property was to burn to the point of complete ruin then not only does the property need to be rebuilt but the existing property and its ruin will need to be demolished and rebuilt. The rebuild value takes account of all of this. There is no property unless it is very very small (circa 70m2) that could have a rebuilt of less than €140,000 for insurance purposes as a result and therefore there is no reason insurance companies would have the value on the lists.


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