Buildings Insurance !!!

[Diver]

Just been going through the Buildings Insurances for my properties and realized that half of them are under insured with relation to todays values and costs.
One of the properties is still insured for the sum of £45,000 and another for £25,000, when the real term value for a rebuild on either of these properties is in excess of £100,000. The insured values would not cover a basic restoration in the event of a minor fire.
How many of us I wonder are still paying premiums that are outdated with regard to returns in the event of a claim.
I would suggest that anybody still paying premiums with figures set more than 5 years ago, should reevaluate their policies and bring them up to date with regard to cover, in the event that anything unfortunate should happen.

HTH

[TheFaQQer]

IIRC, Tesco insurance automatically covers for up to £5 million. Might need to up that, obviously

[miffy]

I would suggest that anybody still paying premiums with figures set more than 5 years ago, should reevaluate their policies and bring them up to date with regard to cover, in the event that anything unfortunate should happen.

I noticed this exact problem with my Norwich Union policy about 6 years ago. Are you nervous now you've discovered this?

I went with the Halifax in the end, they offered unlimited buildings and contents for a great price (although it's creeping slightly now). The cost of rebuilding was also unlimited.

Everyone should definitely revisit this because if the worst did happen, you just know they'll give you the minimum they can get away with.