The Wharf - - Property -

HOME­OWN­ERS need to know the re­build value when buy­ing home in­sur­ance. Over­es­ti­mat­ing equals over­pay­ing. But un­der­es­ti­mat­ing risks only a par­tial pay-out even if the prop­erty is not to­tally de­stroyed.

MANY on­line sites can help with the re­build cal­cu­la­tion. The most ac­cu­rate will ask you to mea­sure your home – not all three-bed­room houses, for in­stance, have any­thing like the same sur­face area.

DON’T for­get to in­clude the re­build value of sheds and other build­ings away from the main prop­erty. Even if these sur­vive a catas­tro­phe, they may need to be de­mol­ished.

RE­BUILD­ING a pe­riod house will cost more if you want or need to re­store orig­i­nal fea­tures. In some ar­eas, you will be le­gally obliged to do this. In oth­ers, it would help main­tain prop­erty val­ues.

PROP­ERTY in­sur­ers will nor­mally find you some­where to live if your home is de­stroyed.

IT is bet­ter to overin­sure than un­der-in­sure if you re­main un­cer­tain. The first will cost a lit­tle, the sec­ond could cost a for­tune.

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