Property Insurance UK – How Much to Insure your Building For?

property. If you are having a survey carried out anyway, ask that this should include an amount for rebuilding costs.

When you have arrived at your building sum insured and are about to buy your building insurance policy, make sure that you select an insurer that will provide you with an indexed linked policy. This will help protect you against underinsurance as your sum insured will be linked to the cost of inflation.

It must be remembered however that even with an index linked policy, you are not guaranteed to have the correct sum insured year after year, if you make improvements to the property such as new windows, an extension or even a conservatory, you should make an adjustment to you sum insured to ensure it stays up to date.

The problems relating to the correct sum insured are further increased if you building is unusual in design or is a listed building. These types of property need special consideration particularly when certain building techniques have been employed and by statute you are obliged to reinstate the building in a a similar if not exact fashion.

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