House Rebuilding Calculator
ABI / BCIS House Rebuilding Cost Assessments for Insurance Purposes
Most domestic house insurance policies require that the sum assured is the full rebuilding cost of the property. It is the responsibility of the insured to get this figure right.
BCIS has been commissioned by the Association of British Insurers to provide guidance figures for the rebuilding cost of a home. Householders can use these figures to check their sums insured.
This House Rebuilding Calculator gives a general indication of rebuilding costs for many common properties within the UK. Please note that it is not appropriate for all houses and the rebuilding cost of even similar houses can vary depending on individual circumstances.
Guidance for house rebuilding costs
The guidance figures are based on specific examples of five different house types of average quality, built using standard construction methods. They are not applicable to:
- Houses built of stone or materials other than brick;
- Properties with more than two storeys (see note on ‘measuring your house’) or with basements and cellars;
- Houses with special design features;
- Houses other than of average quality;
- Flats (because types of construction differ widely, as do responsibilities for shared parts);
- Houses of greater size than those described in the tables;
- Properties containing hazardous materials e.g. asbestos, likely to require special precaution/treatment following damage or demolition;
- Houses which are historic or listed buildings. These will almost certainly have to be rebuilt to their original design using identical materials.
Flats or maisonette rebuilding costs
It is recommended that a flat or maisonette is insured together with the other flats or maisonettes that make up the block; this should be arranged under a single policy for the whole block. This will avoid complications which may arise if units are insured individually and also ensure that you have the widest possible cover available, e.g. for common parts, which may not be available under an individual policy.
To calculate the rebuilding cost for any of the above categories, seek professional advice. It’s important that you do not simply rely on this calculator.
The rebuilding costs in the calculator provide for an average home to be rebuilt to its existing standard using modern materials and techniques and in accordance with current Building Regulations and other statutory requirements.
Where it is necessary for your home to be rebuilt exactly in its original style to comply with local authority requirements, you must allow for the additional costs and a professional Rebuilding Cost Assessment is essential.
It is stressed that the calculator is intended for checking sums insured and is no substitute for professional advice and judgement, particularly where a property has any unusual features or is outside the range of properties described above.
If the rebuilding cost from the calculator is markedly different from your current sum insured, please contact us.
If you’d like any further information regarding arranging adequate insurance cover for your property, please contact the Rowlands & Hames Insurance team and we’d be pleased to advise.