In the Autumn of 2022, the Society of Chartered Property, Land and Construction Surveyors issued updated rebuilding cost rates for buildings, and it made sobering reading. With a steep increase in construction costs and with inflation at an all-time high, it showed that it is critical homeowners review their sums insured to avoid being out of pocket in the event of a claim.
A great resource is the Society of Chartered Property, Land and Construction Surveyors house rebuild calculator – https://scsi.ie/consumer/build/calculator/. Follow the simple steps by providing information about the size and structure of your property, and the calculator will estimate your rebuild costs. Making sure this sum is accurate could end up saving you thousands of euro in the event of a claim.
Britton Insurance strongly recommends that you review the sums insured and – should you need to make any amendments – let us know your revised figures via email so we can have your policy requoted. As your broker, we want to emphasise the importance of reviewing your sums insured annually to ensure you continue to be adequately covered. Get in touch with our home insurance staff if you have any further queries or require assistance.
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