Building sum insured information

The building Sum Insured should represent the full rebuilding cost.

Many people insure their home for the market price, but this may well too high (in which case they will be paying too much), or too low (in which case they will be Underinsured).

Listed buildings, or buildings made with particularly expensive materials, may well cost more to rebuild than their current market value.

If you have recently had a valuation from an architect or surveyor then they will have provided you with a rebuilding cost figure which you should use as the Buildings Sum Insured.

If no valuation is available then a reasonable figure can be obtained by using a rebuilding cost guide, such as that produced by the ABI or the Royal Institution of Chartered Surveyors.