House Rebuild Value Calculator |
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The House Rebuild Calculator gives a general indication of rebuilding costs for many common properties across the UK. The rebuilding costs in the calculator provide for an average home to be rebuilt to its existing standard using modern materials and techniques in accordance with current Building Regulations and other statutory requirements.
Your buildings insurance should cover the full cost of rebuilding your property, including the cost of demolition, clearing the site and architect’s fees. Any special features such as a conservatory or a luxury fitted kitchen should be included in the costs.
Please note, the market value of your home or the Council Tax band valuation have no direct relationship to the cost of rebuilding your home.
It is your responsibility to get the rebuild value right.
There are three main ways to get the rebuild value of your home:
1. You can instruct a chartered surveyor to prepare a professional Rebuilding Cost Assessment for insurance purposes
2. If you have a recent mortgage offer on your property, this will often contain a “Value for Insurance Purposes” figure. This is the rebuild value which the mortgage lender requires you to ensure your property is covered for insurance purposes
3. You can use the House Rebuild Calculator, which calculates the rebuild cost of your property, based on its size, postcode, property type etc.
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By entering the following details, the rebuild calculator will work out what an average house would cost to rebuild:
- the floor area of your house (see measuring your house)
- the type of property (e.g. detached, semi, terraced, bungalow)
- the age of the property (e.g. 1920-1945, 1946-1979)
- the region that the property is located in
- whether there are any additional garages, etc
Measuring the external floor area of your property
To work out your Rebuild Value, firstly you will need to measure your home to get the external floor area, both upstairs and downstairs. The best way to do this is to go outside and measure the length of width of your home and multiply these two figures together. If you cannot measure outside, then measure inside and add the thickness of the walls.
This gives you the ground floor area. For upstairs you may be able to double the ground floor area. If the other floor area is a different size though, you will need to do this separately and add the two together.
If you have an integral garage, these measurements should be included in your floor area calculations.
If you have a garage which is not integral, the calculator notes provide guidance on the average rebuild cost of a garage.
The link to the House Rebuild Calculator can be found by clicking this link:
calculator.bcis.co.uk
Please note, the calculator is run by the Association of British Insurers (ABI) and you will need to register on their website before using the calculator. However, our specialist insurers will not be able to offer you insurance until such time as you have a rebuild figure. It’s really not as complicated as it might seem!
The guidance figure that you get from the Rebuild Calculator is based on an average house, using standard construction methods. The figure will not be applicable if your property:
- is not built of brick – such as stone or timber (see unusual property construction)
- is a listed building, as these will have to be rebuilt to their original design using identical materials (see listed buildings insurance)
- has more than two storeys or a basement or cellar
- is not of average quality
- is of a larger size than those described in the tables
- contains hazardous materials such as asbestos
In these circumstances, you should seek professional advice and also discuss this with our specialist insurers, to see if they can help you find the most appropriate type of buildings insurance policy.
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