Rebuild Cost Estimates - How do they help underinsurance?
Up to 70% of homes in the UK are estimated to be underinsured
​
'This staggering figure highlights the widespread nature of underinsurance and underscores the importance of accurate rebuild cost estimates. Even a 10-20% shortfall in coverage can result in tens of thousands of pounds that owners might have to fund themselves...'
Rebuild Cost Estimates
A rebuild cost estimate calculates the total cost to fully reconstruct your property in the event of a total loss. This includes factors such as size, the type and quality of construction, demolition fees, professional fees, and any permanent structures.
​
In basic terms, imagine if you were to pick your house up and tip it upside down, everything that remains is included in the rebuild cost estimate.
​
As it's a desktop survey, there's no need for a site visit, making the process quicker, more affordable, and convenient.
Rebuild Cost Estimates
Protecting Home Owners
Using advanced satellite imagery and desktop measurement software, we provide accurate rebuild cost estimates which are uniquely tailored to your property.
This estimate is known as the declared value and helps homeowners make informed decisions regarding their insurance coverage. Backed by comprehensive cost data from real construction projects, our mission is to combat underinsurance across the UK.
Choose a product to get started
-
How much would it cost to rebuild my home?A rebuild cost estimate calculates the total cost to rebuild your house in the event of total loss. This figure is also known as the declared value, and helps homeowners make informed decisions regarding their insurance coverage.
-
How do you estimate the rebuild cost of your house?The most time efficient and accurate method is a desktop survey, which is what we specialise in. We look at a variety of factors and measurements which affect the property's rebuild cost, which come from a mix of open source and cost data libraries. We use this to calculate your rebuild cost estimate, without the need for a site visit.
-
Why is a rebuild cost estimate important?Accurate rebuild cost estimates ensure that homeowners understand the true cost to rebuild their properties, reducing the risk of underinsurance.
-
How does underinsurance affect me?If your property is underinsured, your insurance payout may not cover the full cost of rebuilding your property in the event of a partial or total loss.
-
What's the rebuild cost of the property?The rebuild cost is the total cost required to rebuild your home from scratch, in the event of total loss. This is different from the market value of your property. The rebuild cost takes into account a variety of factors such as construction methods to access difficulties.
-
How does the rebuild cost estimate process work?Our team gathers detailed information about your property and utilises industry-recognised methods, in matrix systems with our own methods, to provide an accurate estimate of the total rebuild cost.
-
How long will it take to get my report?For standard properties, the valuation process typically takes 3 to 5 business days from start to finish, depending on the size and complexity of the property. We offer a priority service that completes the process within 2 business days for those in a hurry. For Listed Buildings, it takes up to 7 business days. This is due to the more complex calculations required and the level of detail we provide on our reports.
-
What is a desktop survey?A desktop survey is a type of rebuild cost estimate conducted remotely, using satellite imagery and online tools, without the need for a physical site visit. It is a quicker and more cost-effective option for property owners, offering convenience while maintaining reliable results.
-
What information do I need to provide for my rebuild cost estimate?Examples of information we may ask you to provide include the property address, the number of bedrooms and bathrooms, details of any outbuildings within the premises, any special architectural features, and a few external photographs of the property. We'll take care of the rest.
-
Can I get a rebuild cost estimate if I have a property outside the UK?We currently focus exclusively on UK properties. However, feel free to reach out via our contact page with specific requests regarding future services.
-
I've received my report, what do I do next?Once you’ve received your report, the next step is to provide the report to your insurance broker or selected home insurance provider.
-
Can I share the rebuild cost report with my insurance provider?In short, yes, absolutely. In some cases, an insurance provider may require you to have obtained a professional valuation before taking out an insurance policy with them.
-
How does the rebuild cost estimate affect my home insurance premiums?While our rebuild cost estimates provide an accurate estimate of your property’s rebuild cost, the home insurance premium is determined by your insurance provider.
-
My property's declared value is over £5 million, can I still use this service?We can certainly look into providing a rebuild cost estimate for your property, but we recommend booking a surveyor consultation instead of going through the standard/non listed process, due to increased complexities on these types of property.
-
My home insurance policy is due to renew soon, when should I get an updated rebuild cost estimate?We recommend getting an estimate within 3-4 weeks of your renewal date, in order for your estimate to be of highest accuracy. If you are currently closer than this to your renewal date, we do offer a priority estimate with a 2 day turnaround time.
-
What information will I need to provide for the assessment?We'll ask for basic information about your property, such as: number of bathrooms, bedrooms, toilets, details of any outbuildings if applicable. For more complex/unique properties we may ask for further information about architectural features. If you have any useful documents such as floor plans, architectural drawings or photos, you'll have an opportunity to upload these as well.
-
How much would it cost to rebuild my house?A rebuild cost estimate calculates the total cost to rebuild your house in the event of total loss. This estimate is known as the declared value and helps homeowners make informed decisions regarding their insurance coverage.
Our Blogs
Stay Updated
Join our email list and get access to exclusive articles, industry information and reminders.