How can I calculate the amount I should insure my buildings for?

To calculate how much you should insure your property for, you need to calculate the rebuilding costs of your home. This is the amount of money needed to rebuild your home from scratch.

When calculating this amount you will need to take into account the price of labour and materials as well as the cost of the site clearance. The calculation should also include any outbuildings/ sheds boundary walls located on your property.

Please note: that the current market value of your home is not the rebuilding cost of the property, as it takes into account the land on which your home is built. If in doubt we recommend visiting the Society of Chartered Surveyors website and using their calculator to work out the rebuilding cost.