In the UK if you own a freehold property of GBP 65000,- how much would you pay on average per year/month for buildings insurance? And if you insure for a higher amount In case the house burns down and you need to have a new one build for more than 65.000 would that be possible?
2006-09-12 01:55:15 · 5 answers · asked by trytostayanonimous 2 in Business & Finance ➔ Insurance
philski333. Sorry I am not as fluent in my English, but I am at least not YOU.
2006-09-12 02:06:04 · update #1
The premium will vary dependant on so many different factors so the best thing to do is go online and carry out some quotations.
The amount you insure the building for is called the 'rebuild cost' which is normally different to the actual purchase price of the property. For example the purchase price of a property in London could be more than what it would cost to rebuild and vice versa a property in Scotland may be cheaper to purchase but more expensive to rebuild.
An insurance company however, even if you insured your property for more than what it would cost to rebuild, will only pay what is necessary. In reverse if you under insured the insurer may think that you did this in order to pay a cheaper premium and if your property was to burn down they may not pay for the full rebuilding cost.
I would suggest the website below to find the best insurers and most competitive premiums.
2006-09-12 10:17:14 · answer #1 · answered by Insurance_Expert 2 · 0⤊ 0⤋
No such thing as an average price.
Although probably in the range of £200 - £2000 per year.
Some of the factors that will effect your insurance price include:
Number of bedrooms
Roof type
Postcode area
Security features
Double glazed windows - yes/no
Building Age
Smoke detector fitted - yes/no
etc etc
In fact some insurance companies use over 30 different rating factors to come up with your individual price.
Best way to find out is go to some insurers websites and get a preliminary quote.
If your house burns down the insurer will pay for the rebuilding - this is usually standard.
You cannot insure a house for more than its rebuild value. This would expose the Insurer to fraudulant claims where people burn down their own house. They just won't let you insure for more than it cost to rebuild.
2006-09-12 07:22:55 · answer #2 · answered by Young Man 3 · 0⤊ 0⤋
you'll have on your possession the coverage document on your homes coverage, this ought to teach needless to say what's and isn't any longer lined. i'm fantastically specific that the only equipment that is lined could be a equipped in oven as this is 'stressful under pressure out' right into a particular circuit. yet even that merchandise is debatable. yet you assert the wear replaced into particularly smoke injury, if that is so then truthfully the home equipment will basically want a stable sparkling no longer changing.
2016-11-07 04:06:50 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Hello,
U.K Buildings Insurance is usually included with the Mortgage payments, it is not a policy on its own and will be a percentage of the value of the property.
2006-09-12 01:59:48 · answer #4 · answered by Latin Techie 7 · 0⤊ 1⤋
How about asking this question in the real English language then you might get some type of half-a__ed answer from just about anyone here in America ?
2006-09-12 01:59:27 · answer #5 · answered by philski333 5 · 0⤊ 1⤋