SMF - Just Installed!
Started by Saracen, July 21, 2022, 02:58:56 PM
Quote from: Hippogriff on July 22, 2022, 11:13:56 AMYou don't bother calculating it.You plump for a figure that sounds OK, for you, and also carries the level of impact on the price of the policy that you can handle... knowing that we are talking lightning strike odds here.
Quote from: Saracen on July 23, 2022, 07:54:29 AM.......I asked the insurer to quote for a higher rebuild amount and their quote was basically twice as high for twice the rebuild cost. That premium seems exceptionally poor value to me, given that the bulk of their payouts must surely take the form of smaller sums for lesser damage, rather than a total rebuild. You're right, it is very very unlikely that a complete rebuild would be needed - only a major house fire would do that.
Quote from: HarryStoli on August 22, 2022, 10:03:18 AMBut you should be aware that if you underestimate the rebuild cost by 10% and claim £1000 for some lesser damage, then the insurance company will only pay out £900.