House insurance - Harron Homes Tiverton Rebuild Cost?

[newt]

Having had our house insurance with halifax for the past year, we have now been told they can no longer insure us due to the postcode change by Royal Mail. (Which Is ridiculous but what can you do, computer says no).

Looking on price comparison sites they are asking for the rebuild cost of the house, not the market value. Wondered if anyone knows this as I can't find it on any of our documentation (including mortgage valuation reports etc). We have a harron homes Tiverton.

Thanks

Kate and Dan

[chris1983]

Personally I would just put your purchase price in.

When you look at the details of most policies they will have a rebuild cost up to £500k which will be plenty :-D

We had the same issue with Halifax insurance, best bit was we have our mortgage with them but there computer system said that the house didn't exist :-D

We found endsleigh were good for us :-D

[Rich]

Try here Dan: calculator.bcis.co.uk

I'd say the actual rebuild cost would be something like £160k. The land wouldn't need to be paid for twice and I'd imagine the builders profit to be something like 60-80k. That would be my conservative estimate anyway and that's only based on watching lots of episodes of grand designs!!

As Chris says though, you could just put the buy price in but it's worth doing both to see how it affects your premium.

[Deleted]

Our mortgage provider stipulated a that our insurance rebuild costs had to cover a minimum amount set by them based on a percentage of the valuation.

I think the comparison sites have a rough guestimator as well based on post code, house type, number of bedrooms etc

[newt]

Thanks all. Looks like we're going with Churchill. They don't ask about a rebuild cost and have come out quite cheap

[cammytkd]

That's Funny! I found the opposite when i was shopping for insurace in the summer: Price comparison sites didn't recognise my postcode so didnt quote me.

But Halifax, whose I'm with for my Mortgage, was able to quote me - i think it took some fiddling about by the mrotgage advisor, but they eventually got me a quote.